There's always a lot of talk about greed, especially when bull markets turn red. There are different kinds of greed, to be sure, but when it comes to money it's usually a term applied to the wealthy.
Last we read the Super Ball jackpot is now abut $1.5 billion. Here's an interesting read bout another kind of greed, government. Big hunk would be more correct.
"If they win the jackpot, they're going to be subject to the highest federal tax rate of 39.6 percent," said Melissa Labant, director of tax advocacy for the American Institute of Certified Public Accountants. "It's a lot more significant than folks expect."
Nor are there many workarounds to substantially cut that bill. "You're not the type of consumer the U.S. government is looking to give a tax break to," she said. More:
cnbc.com/2016/01/11/tallying-the-big-tax-bite-of-a-14b-powerball-win.
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