# What If Powerball Tweets From Farmers



## Vol (Jul 5, 2009)

Cute....from AgNews.

Regards, Mike

http://www.agweb.com/article/quick-witted-farmers-fuel-agpowerballdreams-naa-ben-potter/


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## stack em up (Mar 7, 2013)

I'd farm till it was gone. Instead of changing oil, I'd just change tractors.....


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## swmnhay (Jun 13, 2008)

70% of lottery winners end up filling bankruptcy.

If I won I sure would like it to remain secret.


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## carcajou (Jan 28, 2011)

I'm not sure i could keep it a secret. It would be hard to explain where the money come from when i bought 10,000 acres on the eastern slopes of the Rocky Mountains.


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## swmnhay (Jun 13, 2008)

http://www.thefederalistpapers.org/us/alert-the-powerball-winner-has-already-been-chosen


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## mlappin (Jun 25, 2009)

swmnhay said:


> 70% of lottery winners end up filling bankruptcy.
> 
> If I won I sure would like it to remain secret.


I'd follow my uncle the CPA's advice, get several trusted CPA's together (I have three in the family) and form a board and put yourself on an allowance. Let the board handle charitable contributions, taxes, etc. Leave just enough allowance so you still have a little extra for stupid stuff without having to clear his and hers new Harleys, UTV's or whatever with the board. Major purchases like land, equipment, buildings clear with the board first so you don't lose track of just how much your actually spending.


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## mlappin (Jun 25, 2009)

On second thought might have the three CPA's and an Honest and Trusted lawyer on the board as well with my vote being the tie breaker.

I'd also tell the volunteer fire departments in the area when they do a fundraiser for the department I'll match whatever they raise, ditto with our local VFW, American Legion, and Shop with a Cop program.

Far as finding an honest and trusted lawyer, it's like the joke about God making good wives.


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## Grateful11 (Apr 5, 2009)

swmnhay said:


> 70% of lottery winners end up filling bankruptcy.
> 
> If I won I sure would like it to remain secret.


I looked it up.

"You can if you happen to live in one of the six states where lottery winners can remain anonymous: Delaware, Kansas, Maryland, North Dakota, Ohio and South Carolina."

Here's a really smart way to blow one's winnings, she's an idiot:

$188M Powerball winner has risked fortune bailing out ex-con boyfriend

http://www.foxnews.com/us/2016/01/07/188m-powerball-winner-has-risked-fortune-bailing-out-ex-con-boyfriend.html


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## Vol (Jul 5, 2009)

If you want it to remain secret, you form a LLC before turning the ticket in and then sign the back of the ticket in the name of the LLC.... set up a bank account in the name of the LLC, turn in your ticket and have the funds deposited into your LLC bank account. There are always ways to do things....just ask the top 5%. 

Regards, Mike


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## glasswrongsize (Sep 15, 2015)

Grateful11 said:


> Here's a really smart way to blow one's winnings, she's an idiot:[/size]
> 
> $188M Powerball winner has risked fortune bailing out ex-con boyfriend
> http://www.foxnews.com/us/2016/01/07/188m-powerball-winner-has-risked-fortune-bailing-out-ex-con-boyfriend.html


Welfare-rat mentality on a larger scale. Even when the account balances change, the mentality seldom does.

73, Mark


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## CDennyRun (Nov 26, 2015)

With where the numbers are now, I would hire a few ex-seals to guard my wife and I, get a excellent lawyer, and financial adviser before doing anything. I would then go tractor and land shopping!

Chris


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## mlappin (Jun 25, 2009)

Vol said:


> If you want it to remain secret, you form a LLC before turning the ticket in and then sign the back of the ticket in the name of the LLC.... set up a bank account in the name of the LLC, turn in your ticket and have the funds deposited into your LLC bank account. There are always ways to do things....just ask the top 5%.
> 
> Regards, Mike


Would the actual owner of the LLC have to be on record somewhere? And that could be had with the Freedom of information act?


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## Growing pains (Nov 7, 2015)

If you form multiple corporations you can make it very confusing to find out who actually owns what. Also if you spread the money out into different entities you could get the capital gains down to lower tax brackets and pay less taxes overall assuming you make investments with good returns.


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## mlappin (Jun 25, 2009)

Growing pains said:


> If you form multiple corporations you can make it very confusing to find out who actually owns what. Also if you spread the money out into different entities you could get the capital gains down to lower tax brackets and pay less taxes overall assuming you make investments with good returns.


Would have to be very careful about that to keep everything above board, would also be easier for somebody else to embezzle if things got too complicated.

Was just wondering, pretty sure I bought the winning ticket tonight.  Especially since somebody else wanted just one, Raj at the gas station printed one but with power play and they wouldn't take it, so I handed over 3 bucks.


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## BWfarms (Aug 3, 2015)

I know it would be a chunk to handle, it's a few more zeros than I'm used to writing. I'd still farm but on a much larger scale with a $3-4 million capital investment, so that's low return investment #1. Viability of the operation is from profits after the endowment.

The majority of winnings would be annuities, bonds, stocks, and maybe an enterprise for a steady long term donation that would exceed my lifetime. Pretty much a colorful trust fund for the causes I hold dear to my heart. Childhood Cancer Research and somehow an annuity or grant to each Military Veteran and support to families of fallen soldiers. I also want to do some kind of charitable effort to support Agriculture.

I probably would keep 20 million cash for myself. I will use 15 million for more personal investments like maybe a tiny ownership stake in the Carolina Panthers, IRA, real estate, and stocks. I was raised to be humble and we are comfortable. Give myself a roughly $5000 spending allowance a month for life. I doubt I would even spend that much on myself. My friends always give me a hard time that I always have the cheapest bill when we go out but call me the 'rich' friend.


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## mlappin (Jun 25, 2009)

You may not necessarily be able to remain anonymous, only six states allow that, but here is an article on what to do if you are the big winner.

http://www.today.com/money/powerball-jackpot-hits-1-5-billion-here-s-how-stay-t66461


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## JD3430 (Jan 1, 2012)

Could be a curse for most. I've read many winners end up broke, addicted or suicidal.

I often wondered if a lot more good could be done to have 100) 1-million dollar winners instead of 1) 100-million dollar winner.

1 million dollars, after taxes, isn't going to drive people into corruption like 100 million would.

1 million after taxes could pay off a home mortgage & put a couple kids through good colleges.

Seems like it'd be better to do that for 100 to 1,000 people than have 1 person blow 100-million on coke, bimbos & speedboats and end up addicted or dead.


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## Vol (Jul 5, 2009)

mlappin said:


> Would the actual owner of the LLC have to be on record somewhere? And that could be had with the Freedom of information act?


Several states do allow privacy of LLC ownership in formation papers.....you find the state that is closest to you and set up the LLC there.

Regards, Mike


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## IH 1586 (Oct 16, 2014)

I would keep farming but drop 95% of the custom and just make my own hay and live my life quietly. Keep it simple. I believe my woman has much bigger plans though!!


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## glasswrongsize (Sep 15, 2015)

Well, I reckon I'm greedier than you guys. It will chafe my butt about all the taxes they would take, so I have a plan:

I'm gonna take ALL the money and buy an island and build some tar-paper shacks on it. Then, I'm gonna take my ole JC Higgins 22 bolt action rifle and my 14 ft jon boat over to the island. Next, I'm gonna declare war on the US and lob a couple of rounds of 22 shorts toward the mainland. I know the US can't pass up on a good ole war, so they will bomb the crap out my lil ole island and after they have bombed it into oblivion, they will rebuild it with mansions and hospitals and whatnot. Next I will sell the island (with all of its improvements) for enough of a profit to reclaim the lost taxes....then with the full amount, I reckon I can go back to making hay for a few more years. 

73, Mark


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## BWfarms (Aug 3, 2015)

glasswrongsize said:


> Well, I reckon I'm greedier than you guys. It will chafe my butt about all the taxes they would take, so I have a plan:
> I'm gonna take ALL the money and buy an island and build some tar-paper shacks on it. Then, I'm gonna take my ole JC Higgins 22 bolt action rifle and my 14 ft jon boat over to the island. Next, I'm gonna declare war on the US and lob a couple of rounds of 22 shorts toward the mainland. I know the US can't pass up on a good ole war, so they will bomb the crap out my lil ole island and after they have bombed it into oblivion, they will rebuild it with mansions and hospitals and whatnot. Next I will sell the island (with all of it's improvements) for enough of a profit to reclaim the lost taxes....then with the full amount, I reckon I can go back to making hay for a few more years.
> 73, Mark


Pretty sound logic.


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## mlappin (Jun 25, 2009)

Vol said:


> Several states do allow privacy of LLC ownership in formation papers.....you find the state that is closest to you and set up the LLC there.
> 
> Regards, Mike


I think the ticket has to be bought in the state you set the LLC up in. Didn't post that article I got that from. Regardless of how you do it, somebody will let it slip.

Think I would prefer to win the 15 mil megamillions over a billion powerball.


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## deadmoose (Oct 30, 2011)

I get the feeling the winning bidder here was NOT a farmer. That is THE definition of too much money. Wow!
http://www.msn.com/en-us/news/offbeat/this-photo-of-a-potato-sold-for-dollar1-million/ar-BBoLf6E?OCID=ansmsnnews11


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## deadmoose (Oct 30, 2011)

Correction: the article does not mention auction. Maybe he just forked it over...


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## IHCman (Aug 27, 2011)

a million bucks for a photo of a potato? wtf is wrong with some people?


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## Vol (Jul 5, 2009)

deadmoose said:


> I get the feeling the winning bidder here was NOT a farmer. That is THE definition of too much money. Wow!
> http://www.msn.com/en-us/news/offbeat/this-photo-of-a-potato-sold-for-dollar1-million/ar-BBoLf6E?OCID=ansmsnnews11


A fool and his money are soon parted....

Regards, Mike


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