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The Powerball jackpot has exploded to a mind-blowing 1.3 billion dollars. That’s billion with a B, folks. Monday night’s drawing came and went with no winner again.
The winning numbers were 8, 23, 25, 40, 53, and Powerball 5. Millions of hardworking Americans checked their tickets and walked away empty-handed. It’s been over 40 drawings since someone last hit the big one back in May.
But here’s what they don’t tell you on the fancy lottery commercials. Uncle Sam is going to take a massive bite out of any winner’s prize. That 1.3 billion shrinks to about 589 million if you take the cash option.
Then the tax man comes knocking with his greedy hands out. Federal taxes alone will steal nearly 200 million from the winner. State taxes will grab even more depending on where you live.
So that dream jackpot of 1.3 billion becomes maybe 350 million after the government takes its cut. Still a lot of money, but less than half of what they advertise. It’s the biggest scam in America and nobody talks about it.
The lottery is basically a tax on people who struggle with math. Working families spend their hard-earned dollars chasing an impossible dream. The odds of winning are 1 in 292 million, which means you’re more likely to get struck by lightning twice.
Meanwhile, politicians love the lottery because it funds their pet projects. They get to spend billions without raising official taxes. It’s genius if you’re a government bureaucrat who hates working people.
The next drawing is Wednesday night, and the jackpot will probably grow even bigger. Millions more Americans will line up to hand over their money to a system rigged against them from the start.
