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So the mega-millions jackpot is at like $200mm right now and it seems that I have some mega-dumb *cough* Eddie and Dave *cough* friends that don’t know how the whole lotto thing works.  I figured I’d take a few minutes to explain to these ninnies that you’re not really winning $200,000,000.00.

When the jackpot is $200mm, it means that over 26 annual payments you’ll get a total of $200mm.  If you decide to take a lump sum cash amount, you will only get $115mm or so.  On top of that, they withold taxes.  It’s like 25% Federal and then whatever State/City taxes.

So the amount you will get on a $200mm jackpot is closer to $85mm… which isn’t exactly chump change, unless your name’s Helu or Gates, but not the $120mm that the idiots in LA keep insisting on.

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