That $319 million jackpot? N.Y. state workers won it

[Godhumor]

Source: MSNBC-Associated Press

Within a state workforce already threatened with layoffs, a small group of workers has apparently found the sudden luxury of walking away from their jobs if they choose.

No one has stepped forward to claim the weekend's $319 million Mega Millions jackpot, the fifth-largest in the multistate game's history. But media reports have said seven workers at the state Division of Housing and Community Renewal picked the lucky numbers, and an agency lawyer told The Associated Press on Monday that he knows some of them.

...

New York is facing a grinding budget deficit, estimated at $10 billion this year before state leaders announced Sunday they would be able to close it as part of a spending deal. In negotiations, Gov. Andrew Cuomo had suggested up to 9,800 employees might lose their jobs.

Store owner Steve Hutchins said everybody's still talking about the mega win. But as far as knowing who actually holds the golden ticket? He's just hearing the same talk others are.

Read more: http://www.msnbc.msn.com/id/42312516/ns/us_news-wonderful_world/

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Will be interesting to see when the winners are finally revealed. And, yes, I played, too.

[bigwillq]

1. Awesome.

It's nice that it's being shared.

[bluestateguy]

2. I hope they are able to retire

And it will be especially good if their retiring is able to save a few other people's jobs from being eliminated.

[Sabriel]

3. Good thing they weren't Wisconsin state employees

Walker would sign an executive order forcing all lottery winnings to be turned over to the state.

[lostnfound]

5. And he would use it as proof that state employees areboverpaid.

Just think of the spin possibilities on "average income".

[freshwest]

10. Yeah, that would fit his pattern.

[Keith Bee]

12. Took the words right off of my keyboard, Sabriel

:fistbump:

[aquart]

4. YIPPEE!

I hope it turns out well for them.

[aquart]

6. If the state is smart about this...

They'll run an ad with them:

"We're public workers and we've worked hard all our adult lives. We got lucky and won the New York State Lottery. Now we're millionaires. AND WE STILL PAY OUR TAXES. Use the money well, Governor Cuomo."

[virgogal]

7. It was Mega Millions,not New York State. It was a multi-state lottery.

Good for them. I wish them well.

[aquart]

11. Ah. But same applies.

[Marthe48]

8. How lucky they are--

so many things they might not have to worry about--losing their jobs, their health benefits, their homes. I wish all working people in America could have that kind of peace of mind.

[Bombero1956]

9. a nicer message

if these new millionaires make donations to the recall effort in Wisconsin.

[JackRiddler]

13. Please do note: After all taxes it's about a $110 million jackpot.

This is one of the big deceptions in lottery promotions. Unlike a few other countries, the prize in the US for paying a voluntary regressive tax (the ticket) is subject to full advance withdrawals for federal and state taxes. The full prize is based on taking it over 26 years' time. Most everyone plays the lump sum (sensibly if they will invest wisely, although many do not).

The lump sum after taxes in New York State will be about a third of the nominal total. It may be higher because interest rates are so low. (The lump sum is the total they calculate they must invest now at current government bond rates to be able to pay out the nominal total over the 26 years' time.)

Depending on how well they attend to their tax specialists, they can get some of that back based on investments, charitable giving, etc.

Over the course of accumulating this jackpot over the last few weeks several billion $1 tickets were sold.

There are now countries where the odds are displayed in the same large print as the ostensible prize money. The odds in Mega Millions are 175,000,000 to 1, I believe.

That would be good here. Additional progress would be if they paid out a jackpot on every drawing, so that the spectacular jackpots do not accumulate, and held less drawings.

Instead they push hard on the scratch-card games, which are really the worst as far as addiction and impoverishment of those who get sucked in. The worst addicts are the ones sucked in by the Mega jackpots, who end up blowing the big cash on the scratch-cards.

The lottery should exist only to prevent the rise of mob-run numbers games. States should not be advertising it with bogus slogans and huge exaggerations of the chances. They should not be plastering the winners everywhere, encouraging others to play. This is simply not a responsible function for a government (especially not in an era where governments see fit to impose intrusive behavioral codes in other matters, such as smoking and drugs).

They also should stop lying that the money goes into "education." That's another big lie. New York lottery revenues go into the state general fund. An accounting trick is then made wherein it's pretended that the lottery money went into the education budget. But no education budget is higher because of the lottery. Only if that were the case would this claim have any meaning (i.e., if there was a supplementary education budget funded from the lottery, with no impact on the size of the regular budget).

.

[defendandprotect]

14. IMO, there should be a winner every week and not these hold-over pots ....

the same people aren't in the pool every week --

and we don't need near-billionaires, we need more citiens having some wealth!!

Think a much better idea to ensure that there is a winner every week!!!

And, if I were Queen ... !! :)

[JackRiddler]

15. Agreed, see reply 13

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=4791197&mesg_id=4791539

[defendandprotect]

18. Thanks -- didn't realize that in NY it doesn't go to education --

and not sure about what happens anywhere else --

PLUS, the smaller "wins" are ridiculously small --

See we agree on weekly prizes -- all of that should be evened out!!

This economy demands more winners -- not bigger winners!! :)

[Love Bug]

16. They should take the lump-sum payout

Taking the annuity is risky nowadays because the lottery pot is probably the next thing R governors will ransack.

[Love Bug]

17. They should take the lump-sum payout

Taking the annuity is risky nowadays because the lottery pot is probably the next thing R governors will ransack.