At 10:59 pm Eastern on Saturday, January 9, there will be a Powerball lottery drawing for an estimated $800 million jackpot. Lottery jackpots have grown in recent years, with all 10 of the biggest nominal hauls coming since 2012 and inflation adjustments making little difference to the overall rankings. But by design these jackpots are small in comparison to the amount of cash Americans spend on lottery tickets. About 40 percent of lottery revenue is sent to states (often nominally earmarked for schools, but in practice money is fungible), and then winnings are subject to a hefty 45 percent windfall income tax, so the lottery is a major moneymaker for the government.
But a 2003 study by economist Emily Oster suggests that massive lottery jackpots may be more egalitarian in their distributive impact. Oster found that, hypothetically, a jackpot of about $806 million would likely be large enough to make the lottery progressive. If you signed up using a 3rd party account like Facebook or Twitter, please login with it instead.
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First of all, this is my decision to make and I'm not asking for advice on how to handle my family relationships. OP, stop defending your position, and just ignore everyone who feels empowered to spend your money for you. And LOL at you telling us that you can't find anyone to take six weeks off for an all-expenses-paid luxury trip.
I don't have a problem if you don't trust your brothers to be smart with the money or if you don't think they would be happier with the money (although I do think this is likely not the case), just call a spade a spade. And if I was this selfish, I would hope that someone would dope slap me back into reality so please, if I ever post something this selfish on the boards, you are free to rip me a new one. I estimated the taxes as I am unfamiliar with the current capital gains tax code and figure Obama may raise it to this level if I beleive my Uncles' and their paranoid rhetoric.
I am not trying to judge you or what you plan to do with your winfall, you asked for suggestions and I was just curious as to the family dynamic that must exist to completely exclude one's siblings from such a blessing.


I've read stories of lottery winners losing most of their friends, making enemies within the family, and eventually becoming distrustful of people in general.
As an aside I've never bought a lottery ticket and believe the existence of the lottery is a blight on society (especially for the poor and lower working class who buy most of the tickets). I attempted to tip the woman who sold me the ticket (she owned the store I bought it at) and she refused. A winner would have the option of being paid $1.5 billion through annual payments over 29 years or opting for one smaller cash payment. The executive director of the Texas Lottery urged those hoping to hit it big not to spend more than they can afford.
Total spending on lotteries amounted to a shocking $70 billion in 2014, which amounts to about $300 per adult.
In terms of revenue sources it's one of the most regressive out there, with the poor buying a vastly disproportionate share of lottery tickets. Oster found that the regressive nature of the lottery as a revenue source is driven by the downscale demographics of very frequent lottery players.
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Can you honestly tell me that your brothers would not gain some happiness from 2 million dollars?
You don't trust them and you don't want them to blow through what you luckboxed your way to.
I was just trying to wrap my mind around the idea of not gifting anything to the people to whom I would be very close. California, Pennsylvania, New Hampshire and Tennessee also generally exempt lottery winnings from taxes. Officials don’t track which numbers are most popular because so many are randomly generated. When jackpots get bigger, more people are induced to play, and the regressivity diminishes — though it doesn't vanish.


And if there is no winner on Saturday, it's possible we'll have America's first distributionally progressive lottery. You can't give just 1 or 2 million to the brothers that have supported you and loved you for your entire life??? It sounds like they have done well for themselves so your perhaps your help isn't required but it would certainly be appreciated.
I would be surprised if your sister and her wealthy family have not been contributing to their financial well being already. They obviously don't need it which is another blessing to not have to worry about the jealousy and resentment that would almost surely follow had excluded them and they actually were in need of some type of financial assistance. If you are, why would you not give your brothers who are you best friends enough money to get that same level of happiness? You can try to justify it, but you are almost certainly elimating some happiness from your siblings lives. If I had the power to make my brother's life happier and more fullfilling, I would always take that opportunity. Whether that be something small like helping him with a home project or something large like giving him 2 million dollars because I could afford to do so. Even if he decided to blow through it, I would still give it to him as long as I knew he would be happier because of it. My wife's parents are close to retirement (about a year or so away) and we are already going to take care of that.



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