Powerball Jackpot Would Fund The US Government For A Little More Than An Hour

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I’m not a fan of the lottery (I find I get a better return on investment buying beer), but the Powerball lottery jackpot has hit an astronomical sum and it’s making headlines. The potential winner of that jackpot could take home more than a half-billion dollars, some $550 million.

Or about $368 million after taxes. Funny how Uncle Sam has to get their slice of the pie, even when it’s winnings from a government-run gambling enterprise. But I digress.

That has a lot of people doing what comes natural when big lottery jackpots have our attention. They think about how they’d spend all that loot. Gizmodo has a fun run-down of all the things you could do with that enormous fortune.

Well what if the winner decided to leverage that fortune into helping America out of the fiscal hole our leaders have dug for us? Setting taxes aside for a moment, if the winner devoted the entire $550,000,000 to the federal government that enormous fortune that represents more than most of us could earn and spend in multiple lifetimes will fund the government for less than two hours.

Total US spending in 2012 was about $3.538 trillion.

$3.58 trillion/8765 hours = $403,650,884.20/hour in spending.

$550,000,000/$403,650,884.20 = 1.36 hours

But remember, we’re supposed to believe we have a deficit and debt problem because we’re not taxed enough, not because the government spends too much.

Rob Port is the editor of SayAnythingBlog.com. In 2011 he was a finalist for the Watch Dog of the Year from the Sam Adams Alliance and winner of the Americans For Prosperity Award for Online Excellence. In 2013 the Washington Post named SAB one of the nation's top state-based political blogs, and named Rob one of the state's best political reporters. He writes a weekly column for several North Dakota newspapers, and also serves as a policy fellow for the North Dakota Policy Council.

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  • LibertyFargo

    Not even 2 hours?
    Rob I think you said it best… we don’t have a revenue problem, we have a spending problem.

  • mikemc1970

    That’s about 34,375,000 $16 muffins. That could last the government all week.

    • WOOF

      Toast mine, would you?

    • http://realitybasedbob.sayanythingblog.com/ realitybasedbob

      Mr. 1970, you do know, don’t you, that $16 muffin gop smear has been thoroughly debunked, right?

      • Deficit Hawk

        You do know, that the current fiscal plan the administration has on the table by taxing those with high incomes still leaves us with trillion dollar deficits.

      • mikemc1970

        So the GSA snagged the muffin money to use in Vegas?

  • WOOF

    Price of Empire.

    314,000,000 Americans +Afghans+Iraqis+Israelis+ Agribuisness+Oil+
    Airlines+Military+Banks etc etc

  • sbark

    If the winner gross’s 550 million…..I beleive a mirror amount goes to Govt, along with taxes on the half of course on top of it….
    ….and alot of the mirror amount goes to Education—my question is at what levels—Union level, collegiate level, local small town school level?
    How come the poor and lower middle class dont mind paying this “tax”?

  • kevindf

    How long will it be until things freeze up again?

  • Harold

    People you don’t want to win the lottery, because you’ll be viewed by liberals as a scum bag rich guy, they don’t respect luck and good business practices, if you are a crack head you’ll have respect and sympathy and uber zillions of govt programs all designed to make you feel better. In america now days screw ups are rewarded with anything their little hearts desires and hard working successful people are scum bags in Obama and his followers eyes now days. So for god’s sake don’t spend your money on the lottery cuz if you win it you’ll be vilified for winning and becoming rich beyond your wildest dreams.

  • Spartacus

    Strange that when the government wants to generate a little revenue it uses a business model created by the mafia. But then in a round about way it’s just a tax upon the stupid, I don’t play so I’m okay with it.

  • KJUU

    Look, I think whoever wins this should cede 100% of the winnings to the government in the name of patriotism. Because poor people. And free contraception. And drones. All these evil rich people with $250 million (left after actual taxes) are just greedy, and besides — children. CHILDREN! Poverty, crying thirty-year-old law students with no way to keep from getting pregnant since white male privilege, no cell service. War? War on women! EBT and heating assistance.

    Thus the 99%. F’ing hoarding whiners, lottery winners, the lot of ‘em.

  • mickey_moussaoui

    BTW…I’ll be taking my $350,000,000 powerball winnings to an offshore account.

  • $8194357

    Who makes the policies for globalism?

    Politicians, bankers, and media moguls

    who wag the dog from elitist steering committees..

    Globalist steering commitees and policy makers since 1973.

    Zignew and Rockefellas founding members..

    Illuminist root systems communist cronyism in action..

    http://www.augustforecast.com/2012/11/28/findings-forecasts-11282012/

    http://www.youtube.com/watch?v=frGK7s7Etn0&feature=player_embedded

    Every Admin­is­tra­tion since Jimmy Carter has been dom­i­nated by this group of super-elitists. The eco­nomic poli­cies they imple­mented were accom­plished with lead­er­ship from their own mem­bers as they worked their way into top levels of gov­ern­ments around the world.

    In the U.S., the Com­mis­sion began its hege­mony over the U.S. Exec­u­tive Branch with the selec­tion of Jimmy Carter and Walter Mon­dale to run on the pres­i­den­tial ticket in 1975. First, they inducted them into mem­ber­ship and “trained” them in mat­ters of for­eign and eco­nomic policy. Sec­ondly, they backed and orches­trated their suc­cessful elec­tion, with ample help from mem­bers of the media who were also rep­re­sented on the Com­mis­sion. Thirdly, as soon as Carter was inau­gu­rated, he filled his cab­inet and other key appoint­ments with fellow mem­bers of the Tri­lat­eral Commission.

    No less that twenty eight per­cent of the U.S. mem­ber­ship of the Tri­lat­eral Com­mis­sion ended up serving in the Carter Admin­is­tra­tion. Mind you, the north Amer­ican mem­bers only rep­re­sented one-third of the total mem­ber­ship – the others were from Europe and Japan!

    So, whose poli­cies were actu­ally imple­mented in the U.S.? Not Amer­ican poli­cies. Not Congress-created or approved poli­cies. Not Con­sti­tu­tional poli­cies. Rather, it was the glob­alist poli­cies ham­mered out in pri­vate meet­ings by Com­mis­sioners from Europe, Japan and north America!

    Since 1976, six out of eight World Bank pres­i­dents appointed by the U.S. Pres­i­dent have been Com­mis­sion mem­bers; eight out of eleven U.S. Trade Rep­re­sen­ta­tives; Seven out of twelve Sec­re­taries of State; nine out of thir­teen Sec­re­taries of Defense. Of our exec­u­tive leaders, mem­bers have included Jimmy Carter, Walter Mon­dale, George H.W. Bush, Bill Clinton, Al Gore and Dick Cheney.

    Not bad for such a tiny group that picks its own mem­bers, writes its own poli­cies, and then launches their mem­bers into public office. In the early 1980′s, a member of the Com­mis­sion actu­ally responded to me that it was just coin­ci­dence and that the high quality of people within the Com­mis­sion made it a com­pelling resource to pull appointees from. He lied; not just a pas­sive lie or with­holding of part of the truth – he com­pletely and falsely misled with intent to deceive and conceal.

    As 2012 draws to a close, the Tri­lat­eral Com­mis­sion is “first and ten” on the goal line of ful­filling all of its orig­inal objec­tives, espe­cially the cre­ation of a “New Inter­na­tional Eco­nomic Order.”

  • Snarkie

    After Bush Jr grew the federal government more than any other president ever and you stood around and cheered it all in the name of ‘security’ none of this shit should surprise you. Of course it’s expensive you moron.

    BTW, people think you are skin color racists because of that cheering. Wise up assclowns.

    • http://sayanythingblog.com Rob

      To be fair, Bush grew the federal government more than any other president until Obama.

      They’re the two worst, by far.

      • Snarkie

        To be fair, you can understand how people interpret your lack of fundamental principles and susceptibility to fleeting social pressures as… racism?

        • http://proof-proofpositive.blogspot.com/ Proof

          Snarkkkie: To be fair, you can understand how people interpret your lack of fundamental principles, ethics and intelligence, and propensity to associate everything with race as… race baiting?

        • two_amber_lamps

          To be fair, you must admit your latest stunt with a mere 160 proof was a little disappointing… don’t you worry about what all this booze is doing to your liver? Someday you will find the answer for all the problems of society… it’ll be at the bottom of one of those vodka bottles! Keep trying SAB alcoholic, wife-killer and racist! You can do it!

          http://www.youtube.com/watch?v=PXfkpQkvOrc

  • banjo kid

    It would fund me for about ten minutes . (expensive taste and a hobos rear end . )

  • JW American

    I love the PowerBall!! we just taxed the stupid over 900 million dollars and they won’t be eligible for a refund!!

    Fox & Friends talked about this this morning, I forget the exact amounts but something like this:

    $580 mil jackpot, $580 mill Government mirror amount, lump sum ~380 mill.

    If the Lump sum is taken Gov gets to keep ~200 mill more, then the winners get to pay taxes on the 380 so that’s another ~150

    so to review Gov gets 580 +200 +150 = 930 Million, winner gets to keep and spend $230 million.

    From that 230 million dollars he/she/they will blow on mostly taxable stuff like cars, gasoline, furniture, big screen TV’s and Power boats.. so the Gov will recoup another 50 mil down the road in sales taxes and excise fees. Pretty amazing isn’t it?

    and If they die, from having too much fun spending the winnings well then Uncle Sam will sure to be there too to collect that inheritance tax.

    The more winners, the more Cars /Boats / TV’s to tax too! so I’ll bet Obama’s hoping a whole big group bought the winning ticket!

    but hey, this lotto money goes for edjukation right? so its for da children and that makes it all fine and dandy.. :(

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