Proof "Money" doesn't make you smart

***SMWS6TA*** · 08-10-2015, 11:04 AM

8,000 bags of H....

Powerball Winner Spends $9 Million To Bail Boyfriend Out | MadameNoire

**GTP231** · 08-10-2015, 03:09 PM

I just look at a picture of Jerry Jones for that reminder

**CJREX** · 08-10-2015, 06:48 PM

Originally Posted by GTP231

I just look at a picture of Jerry Jones for that reminder

Or any Kardashian, Hilton, etc...

**35th-ANV-SS** · 08-10-2015, 07:00 PM

Did it ever? Lol.

**cam02ss** · 08-11-2015, 09:53 AM

The ending of this will be what we all expect. Was she smart enough to hire solid financial advisors such as Merrill Lynch, etc. and invest the greater portion of that money? Who knows...judging by her actions in dealing with the "priorities" in her life? The money that came quickly into her life will quickly exit. Unfortunately, there are a lot of people who aren't disciplined enough to be financially responsible with large amounts of money.

**Whamhammer** · 08-11-2015, 11:06 AM

Originally Posted by cam02ss

The ending of this will be what we all expect. Was she smart enough to hire solid financial advisors such as Merrill Lynch, etc. and invest the greater portion of that money? Who knows...judging by her actions in dealing with the "priorities" in her life? The money that came quickly into her life will quickly exit. Unfortunately, there are a lot of people who aren't disciplined enough to be financially responsible with large amounts of money.

Heck, with the $60m or so left, they could sit on in a savings account and be set for life, if they wouldn't "blow" (pun intended) and stupid and spur of the moment stuff.

**5.0THIS** · 08-11-2015, 11:07 AM

She is investing the money...

in heroin

**35th-ANV-SS** · 08-11-2015, 01:33 PM

Curious....when you have that kind of money in a savings account, do you still earn interest? I thought I read once that you actually pay the financial institution a fee. Unfortunately I don't have that problem yet lol.

**Zinergy** · 08-11-2015, 01:43 PM

You have to have it split up in multiple accounts. The fed only insures accounts up to a certain amount. When you have that much money in a financial institution you don't have to pay fees for anything. They will do just about anything to keep your money in their possession.

**67CamaroRSSS** · 08-11-2015, 03:27 PM

I sense a Flowers for Algernon story here:

Progris riport: I dun one muny 2day...

**cam02ss** · 08-11-2015, 04:57 PM

Typically when you convert to cash, it generates an interest rate of around 1%. That's hardly anything.

26 year old single mother of four. Instability. Her boyfriend is in the heroin business and she stuck around. Stupidity. Said boyfriend got busted for heroin and not only did she still stick around, she bailed him out at the tune of several million dollars. Defies logic and enters the realm where terms such as "financial suicide" comes into play. I say this because she is a repeat offender of bailing his ass out. She'd do it again, and again. This is not a case where an average middle class family who lived in a split level ranch house for 30 years and planned on retiring there struck it big. What you have here are two bottom feeding losers of society, and no amount of money will change that.

8,000 bags of heroin were unearthed and yet she says "And no he’s no drug dealer or user but who are Y’all to judge anybody?" Fuck them both.

**Whamhammer** · 08-11-2015, 06:03 PM

Originally Posted by cam02ss

Typically when you convert to cash, it generates an interest rate of around 1%. That's hardly anything.

26 year old single mother of four. Instability. Her boyfriend is in the heroin business and she stuck around. Stupidity. Said boyfriend got busted for heroin and not only did she still stick around, she bailed him out at the tune of several million dollars. Defies logic and enters the realm where terms such as "financial suicide" comes into play. I say this because she is a repeat offender of bailing his ass out. She'd do it again, and again. This is not a case where an average middle class family who lived in a split level ranch house for 30 years and planned on retiring there struck it big. What you have here are two bottom feeding losers of society, and no amount of money will change that.

8,000 bags of heroin were unearthed and yet she says "And no he’s no drug dealer or user but who are Y’all to judge anybody?" Fuck them both.

The lottery is the biggest scam on lower an middle income people, especially the low income people. I worked at a grocery store at the service desk when I was in college, I frequently saw people withdrawing money from thier EBT cards to play $20.00 or more worth of lottery tickets. There was one lady who was with thier kids and put down $20.00 for lottery and told her kids that she didnt have any more money for the weekend.

The worst part of the whole scam is that they make it to where a person can occasionaly win enough money to keep them hooked, not to mention that the states sponsors it. I wish that there was a law that made it illegal to sell lottery tickets where EBT/Foodstamps/other goverment aid is administered, but the only people who really win with the lottery is the states that get the revenue and taxes from it.

**cam02ss** · 08-12-2015, 02:20 AM

Originally Posted by Whamhammer

The lottery is the biggest scam on lower an middle income people, especially the low income people. I worked at a grocery store at the service desk when I was in college, I frequently saw people withdrawing money from thier EBT cards to play $20.00 or more worth of lottery tickets. There was one lady who was with thier kids and put down $20.00 for lottery and told her kids that she didnt have any more money for the weekend.

The worst part of the whole scam is that they make it to where a person can occasionaly win enough money to keep them hooked, not to mention that the states sponsors it. I wish that there was a law that made it illegal to sell lottery tickets where EBT/Foodstamps/other goverment aid is administered, but the only people who really win with the lottery is the states that get the revenue and taxes from it.

Agreed, that is complete bullshit. One of the many flaws in a broken system. EBT cards should be able to be used for food, and that's it. Not lottery tickets, cigarettes, alcohol, etc. I read a story in the Washington Post several months back where a woman had an EBT card in her name and her daughters name to get double the "income". It still wasn't enough. She was waiting for her son's next birthday when he would be old enough for a card, and was planning on taking a third card out in his name.

**CJREX** · 08-12-2015, 03:30 AM

Lottery = A voluntary tax on the mathematically challenged.

Also sometimes referred to as a Stupid Tax.

I'm not bashing the person who occasionally buys a few tickets as a $5 dream, but idiots like the lady above who sacrifice basic needs in order to get tickets make up the bulk of purchasers.

Is it any wonder the majority of lottery winners are broke again before it finishes paying out?

People who have the math skills to realize the odds of winning are usually financially responsible enough to avoid it.

**Zinergy** · 08-12-2015, 07:12 AM

I don't think the lottery is a scam. They state the odds right on them. People are informed on what they are doing.

I don't know what happens in other states but I know in WI you can't buy lottery or scratch offs or any non-food item with a food card. Unless of course you sell the food card for cash.

**Whamhammer** · 08-12-2015, 07:49 AM

Originally Posted by Zinergy

I don't think the lottery is a scam. They state the odds right on them. People are informed on what they are doing.

I don't know what happens in other states but I know in WI you can't buy lottery or scratch offs or any non-food item with a food card. Unless of course you sell the food card for cash.

Yes, they state the odds, but do a great deal of people even read the odds section or even have a basic understanding of statistics? I am not saying it takes a genious to understand the lottery's game, but most people see the prize money (in the millions) and thats all they see. The states know this too, but they benefit from it too much to be objective. If the givernment didnt have thier hands in the cookie jar, they wouldve shut simiar stuff like this down.

Also take into account the disperate amount of lottery advertising in economically "depressed" areas vs middle and upper income areas, and follow the money.

As far as the EBT scam goes; states,like where I live, give a cash stipend for purchase of cleaning products and other non-food essential products, and thats where the funds can be taken out as cash, as they arent recognizable as food stuffs. Personally, I think that all of the money on the EBT cards should be non-cash-withdrawlable, and monitored by the providing agency (Dept of Agriculture). I also think that luxury items like $15-20 cans of crab meat , lobster tails and such should also be prohibited (but currently arent).

**Zinergy** · 08-12-2015, 08:06 AM

Still not a scam. They aren't being dishonest or misleading. They tell you what your odds are for winning. If you want to spend money on that it is up to you. It's just as silly as people who act as though gambling at casinos etc is a scam. You know what you are doing.

I really could care less what people spend their food cards on. Eitherway they are getting that money. Whether they buy 1000 packs of ramen or 100 cans of crab meat makes little difference to me. There are cons to living in a so called "free society" and one of those cons is stupid people being able to be stupid, say stupid things, think in a stupid manner.

***SMWS6TA*** · 08-12-2015, 08:21 AM

Originally Posted by Zinergy

Still not a scam. They aren't being dishonest or misleading. They tell you what your odds are for winning. If you want to spend money on that it is up to you. It's just as silly as people who act as though gambling at casinos etc is a scam. You know what you are doing.

I really could care less what people spend their food cards on. Eitherway they are getting that money. Whether they buy 1000 packs of ramen or 100 cans of crab meat makes little difference to me. There are cons to living in a so called "free society" and one of those cons is stupid people being able to be stupid, say stupid things, think in a stupid manner.

**Whamhammer** · 08-12-2015, 08:49 AM

Originally Posted by Zinergy

Still not a scam. They aren't being dishonest or misleading. They tell you what your odds are for winning. If you want to spend money on that it is up to you. It's just as silly as people who act as though gambling at casinos etc is a scam. You know what you are doing.

I really could care less what people spend their food cards on. Eitherway they are getting that money. Whether they buy 1000 packs of ramen or 100 cans of crab meat makes little difference to me. There are cons to living in a so called "free society" and one of those cons is stupid people being able to be stupid, say stupid things, think in a stupid manner.

Its a scam (or better yet an unethical action) in the sense that:

1) The government has no purpose being involved in gambling to begin with, especially for its own profit, thats not what government is there for.

2) They aim it at economically depressed parts of thier citizenry, knowing that desperation to win more money than what they might make in a lifetime is overriding for many of these people.

3) Many of these states turn a blind eye to the (essential) fraud that is taking place with government issued funding in the form of entitlements becUse that money is being put right back into the govts coffers in the form of hightax items like cigarettes, alchohol, and lottery tickets.
If the above was being done by a private business, the DoJ would bring them up on charges out the wazzoo, including discrimination charges. Should our governments be allowed to get away with that?

5) The only reason I care about what people buy with EBT is that money was given to the user by "We the people", to help them when they are in a tough spot, and prop them up enough to get back up on thier feet again, so they may be contributing back to society again. They users of the card should be respectful of the help they are getting, and use the money efficiently.

Government contractors and (sometimes) Government agencies have a duty to spend efficiently and effectively, so should people who are being aided by public funding.

**Zinergy** · 08-12-2015, 09:32 AM

1) I wouldn't like to see what our taxes look like without the lottery. You think government would just let that money go? No , all of us would pay billons more in taxes per year combined. What state and local governments are there for are up to the people from those states. Most support the use of lottery for construction, education etc.

2) It's not just low income workers who have the ability to make more in one win than they would in their whole lifetime. US workers will make around 1-4 million dollars in their lifetime. That's nothing compared to the 200, 300, 500 million jackpots.

3) Many states turn a blind because while fraud does occur there is no proof that it is a majority or even close to a majority of recipients.

4) Not sure where 4 went.

5) Don't get me wrong I care about the government wasting our money that they get from us. But once they have made the decision to give these people that money then it is up to them as free Americans to decide what to buy with it. It would be better to try to cut the head off the snake and reduce the amount of people getting the money in general. Not try to rely on each citizen to spend the money as you think they should.

Once again this is a "free society". Citizens are not obligated to spend money efficiently or effectively. Most of us are guilty of not doing so.