$1 million lottery winner on food stamps. [Archive]

View Full Version : $1 million lottery winner on food stamps.

cleller

3/7/2012, 07:48 PM

olevetonahill

3/7/2012, 08:37 PM

Bro everyone (Well some of the Loons) on the Political forum dun decided this Chick is a Hero cause shes forcing the Welfare folks to redo the rules, Or Its All Bushs fault , Or its somehow tied to Rush Limbaugh

cleller

3/7/2012, 09:28 PM

Shoulda know it was already over there. I just wanted to see the reaction of the average joe on how ridiculous things can get.

I had a smart buddy in high school that referred to people like her as "neutron star heads". Apparently a neutron star is some of the densest matter in the universe.

cccasooner2

3/7/2012, 10:10 PM

....... Apparently a neutron star is some of the densest matter in the universe.

Not nearly as dense as our lawmakers, however. :)

8timechamps

3/7/2012, 10:35 PM

When I was fed to the wolves to start my career as a broker/adviser, I had a client referred to me. One of the older, more established brokers in the office sent him my way to "help me out". After a initial conversation on the phone, I invited him down to my office where we could go over all the options in front of him.

May - 1999
About a week or so later, "Mr. L" shows up in my office downtown (I'll use the name Mr. L for Lottery). He sits down and tells me he has just won $3 million dollars, and has opted to take the lump sum (which was about $1,200,000). And that he needed help with the taxes. After bringing in an accountant I had worked with, he estimated after tax, Mr L. would have about $745.000. So far, so good.

I explained that he could invest this money in a fairly conservative portfolio, and have more than enough money to support him for the rest of his life without working another day. So, that became the plan. He signed off, and I spent the few days getting his funds invested

February - 2001

Although the markets had stopped producing good results, and 9/11 hadn't happened yet, his portfolio was gown to just under $1,500,000.

Over the course of the year and a half, Mr. L bought at least 6 vehicles. Attempted to open a night club, and pretty much just pissed away almost a million bucks. Month after month, I implored him to slow down and stop bleeding capital, buy he would always say "I know you think that's what I should do, but the women really want me to buy that new Corvette, etc, etc.

Sometime in the fall/winter of 2001, MR L was forced into bankruptcy, and on the hook for some business dealings he had moved into on his own.

I found out later, that lotto winners (less that 5 million in winnings) that take the lump sim, will have the entire amount gone within 24 months.

olevetonahill

3/7/2012, 11:17 PM

8Times
What would YOU do if ya won .
Take the Lump er let em pay ya out?

cleller

3/8/2012, 08:41 AM

Even though I've never bought a lottery ticket I've thought of the lump sum vs payout thing, too. I'd take the payout unless I could see some mathmatical/tax advantage to take a lump. Then it would go right into a mix of cd's, index funds, and a few zero bonds (maybe).

For dang sure, other than giving some to family, I wouldn't be out buying corvettes and nightclubs.

Ferrari's hold their value much better.

StoopTroup

3/8/2012, 01:08 PM

OK, I know this is headed for the ObamaFest at some point. It is just interesting, though. She wins $1 million, but ends up with less due to the lump sum and taxes, yet still collects her food stamps and is unemployed. My only hope is it backfires and she has to get a job. "I'm not working". "I'm struggling". "I've got two houses". She's so stupid she doesn't realize she's a leech.

http://news.yahoo.com/blogs/sideshow/michigan-woman-still-collecting-food-stamps-winning-1-201751693.html

It's quite obvious that she's going to reinvest all of her lotto winnings back into the economy. If she is still thinking like she is broke, she will be broke and sooner than she realizes. So what that she's still getting food Stamps. She's paying the money back into the system as if she is so stupid to think that she needs the food stamps because she owns two houses and is unemployed, she will be to stupid to hold onto it. She might as well keep on getting the food stamps. She's gonna need them once she owes the Feds money she's doesn't have and they take those two houses from her.

One of the funniest things comes to mind about all of this. She won some money and didn't stay anonymous in claiming it. Instead she decided to enjoy the attention the money brought her. Everyone expects her to be perfect when time and time again lottery winners continue to write these riches to rags again stories.

Most folks get bat **** crazy the 1st time they get some money in their pocket. The funny thing is that there are so many experts here that think they wouldn't ever do anything wrong or end up in the news like this gal did. I believe that nearly everyone here would experience quite a few things about themselves within that 24 months that 8xs is talking about. It would be funny to actually see how all these folks that think this gal is Satan's Spawn would actually do if they were in her shoes. Maybe they don't take the food stamps but something similar will take place at some point.

I figure she'll have a pretty hard time keeping a dime of the money the moment she painted a target on her head.

I actually like 8xs thoughts about lottery winnings. You need to use the dough as a way to generate income that you can then either invest in your dream business or dream house or whatever it is. If you don't plan to do that or think the money will be a problem for you, it's probably smart to take an annuity payout and enjoy the things the money brings you until it gets boring buying stuff you don't really need but think you need.

MsProudSooner

3/8/2012, 01:36 PM

The lottery winners who are really smart are the ones who remain anonymous.

KABOOKIE

3/8/2012, 02:14 PM

The lottery winners who are really smart are the ones who remain anonymous.

That is the philosophy I have lived by...

StoopTroup

3/8/2012, 02:18 PM

The lottery winners who are really smart are the ones who remain anonymous.

Yep. If you don't you end up with a bunch of nitwits pissed about you getting food stamps. LOL.

MsProudSooner

3/8/2012, 02:21 PM

Yep. If you don't you end up with a bunch of nitwits pissed about you getting food stamps. LOL.

Also, you don't have to put up with long lost relatives coming out of the woodwork.

Salt City Sooner

3/8/2012, 05:02 PM

It's quite obvious that she's going to reinvest all of her lotto winnings back into the economy. If she is still thinking like she is broke, she will be broke and sooner than she realizes. So what that she's still getting food Stamps. She's paying the money back into the system as if she is so stupid to think that she needs the food stamps because she owns two houses and is unemployed, she will be to stupid to hold onto it. She might as well keep on getting the food stamps. She's gonna need them once she owes the Feds money she's doesn't have and they take those two houses from her.

One of the funniest things comes to mind about all of this. She won some money and didn't stay anonymous in claiming it. Instead she decided to enjoy the attention the money brought her. Everyone expects her to be perfect when time and time again lottery winners continue to write these riches to rags again stories.

Most folks get bat **** crazy the 1st time they get some money in their pocket. The funny thing is that there are so many experts here that think they wouldn't ever do anything wrong or end up in the news like this gal did. I believe that nearly everyone here would experience quite a few things about themselves within that 24 months that 8xs is talking about. It would be funny to actually see how all these folks that think this gal is Satan's Spawn would actually do if they were in her shoes. Maybe they don't take the food stamps but something similar will take place at some point.

I figure she'll have a pretty hard time keeping a dime of the money the moment she painted a target on her head.

I actually like 8xs thoughts about lottery winnings. You need to use the dough as a way to generate income that you can then either invest in your dream business or dream house or whatever it is. If you don't plan to do that or think the money will be a problem for you, it's probably smart to take an annuity payout and enjoy the things the money brings you until it gets boring buying stuff you don't really need but think you need.
Not any more.

http://www.foxnews.com/us/2012/03/08/michigan-woman-who-won-1m-lottery-but-kept-using-food-stamps-loses-benefits-141935620/#ixzz1oW1eiqjJ?test=latestnews

olevetonahill

3/8/2012, 05:08 PM

StoopTroup

3/8/2012, 05:15 PM

Not any more.

http://www.foxnews.com/us/2012/03/08/michigan-woman-who-won-1m-lottery-but-kept-using-food-stamps-loses-benefits-141935620/#ixzz1oW1eiqjJ?test=latestnews

So all this hooting and hollering about her comes down the fact that she indeed broke the law and probably owes all the money she received after she collected her lottery winnings. Since she lacks any kind of sense she will probably even face fines and penalties unless she spends some of her lotto winnings on a good attorney or has the sense to show up in front of the judge and plead ignorance and pay back the money.

In the end there was a law against it all and this is just more and more journalism designed to get people's panties in a wad.

8timechamps

3/8/2012, 06:05 PM

8Times
What would YOU do if ya won .
Take the Lump er let em pay ya out?

Lump Sum. I'd invest it, and live off of the returns. Of course, I would have to buy myself a few things first.

8timechamps

3/8/2012, 06:10 PM

The lottery winners who are really smart are the ones who remain anonymous.

No doubt.

Frozen Sooner

3/8/2012, 07:29 PM

Lump Sum. I'd invest it, and live off of the returns. Of course, I would have to buy myself a few things first.

This. Hell, you could probably do better than you will with the lifetime payout by buying a dang term certain life annuity and annuitizing immediately.

TheHumanAlphabet

3/8/2012, 11:53 PM

Thank God they yanked her a$$ off the rolls...

I am gobsmacked at her stupidity and feeling of entitlement that she still deserved the assistance. What a wanker...

StoopTroup

3/9/2012, 09:01 PM

Thank God they yanked her a$$ off the rolls...

I am gobsmacked at her stupidity and feeling of entitlement that she still deserved the assistance. What a wanker...

Did you read what she said? She didn't really act entitled IMO. I really think she was just giving DHS credit for being an organization that would immediately stop sending her the food stamps after she won the lotto. I think she really felt surprised that they didn't stop sending her assistance.

The Wife and I were talking about this and that if DHS were to go around trying to uncover dishonest users how much would it cost them to do audits and catch these scumbags? I'm betting the cost would end up costing so much dough that the program would really not help anyone. It sucks that people would take advantage like this gal found out she was doing but if you didn't notice how quick even people on this message board were to start with the torches and pitchforks, it's not a very popular thing to do in taking assistance when you have two homes and a half million in the bank.

Hopefully the court will get all the money she took back and levels some fines against her for playing dumb.

8timechamps

3/9/2012, 09:15 PM

Did you read what she said? She didn't really act entitled IMO. I really think she was just giving DHS credit for being an organization that would immediately stop sending her the food stamps after she won the lotto. I think she really felt surprised that they didn't stop sending her assistance.

The Wife and I were talking about this and that if DHS were to go around trying to uncover dishonest users how much would it cost them to do audits and catch these scumbags? I'm betting the cost would end up costing so much dough that the program would really not help anyone. It sucks that people would take advantage like this gal found out she was doing but if you didn't notice how quick even people on this message board were to start with the torches and pitchforks, it's not a very popular thing to do in taking assistance when you have two homes and a half million in the bank.

Hopefully the court will get all the money she took back and levels some fines against her for playing dumb.

There are millions wasted annually on folks playing the system. It's a catch 22 IMO, the government can't afford the resources to research and catch those scumbags, but they really can't afford not to. I'm not an over the top political person, so I don't want to turn this in to a political thing, but that's my 2 cents.

TheHumanAlphabet

3/9/2012, 11:15 PM

olevetonahill

3/9/2012, 11:39 PM

Stoup, I either saw a video or a transcript where she was asked if she deserved the money. Her reply was like " yeah, I deserve it, I don't have a job and I need money for food"... something like that.
This one ?

Yea she was really feeling like It was not right (Sigh)

http://www.youtube.com/watch?v=DDbENlg-Jy8

SanJoaquinSooner

3/10/2012, 09:10 AM

The politicians are thinking too narrowly on this -- rushing out new bills prohibiting lottery winners from getting food stamps (public assistance). It should be broader, prohibiting it for anyone with $x in assets.

I think there are some federal laws that block SSI for elderly once their bank account amount reaches a certain threshold.

Wishboned

9/30/2012, 12:18 AM

And she's dead now...

http://news.yahoo.com/michigan-1-million-lotto-winner-charged-welfare-fraud-230559229--abc-news-topstories.html

A woman who admitted to receiving food stamps after winning $1 million on a Michigan state lotto game show was found dead today.
The circumstances surrounding Amanda Clayton's death were not immediately released by police, but ABC News' Detroit affiliate WXYZ-TV reported that sources within the police department said they suspect the woman died of an overdose.
An autopsy is pending on Clayton's body, which was found at a home in Ecorse, Mich., police said.
Clayton, who became a millionaire after her big win last September, caused outrage earlier this year when it was revealed she was continuing to get $200 in monthly food aid from the state.
According to the attorney general's office, Clayton failed to report her winnings and employment while receiving $5,475 in food and medical assistance.
"It's simply common sense that million dollar lottery winners forfeit their right to public assistance," Michigan Attorney General Bill Schuette said in a statement. "We will continue to work with local, state and federal authorities to uphold state laws intended to ensure wise stewardship of taxpayer dollars."
Michigan public assistance programs require participants to report income and employment.
She pleaded no contest to welfare fraud and was sentenced to probation in July.

olevetonahill

9/30/2012, 12:32 AM

And she's dead now...

http://news.yahoo.com/michigan-1-million-lotto-winner-charged-welfare-fraud-230559229--abc-news-topstories.html

Im all heart broken

bluedogok

9/30/2012, 09:56 PM

The lottery winners who are really smart are the ones who remain anonymous.
Not all states allow you to do that but I think the majority do allow it. When one of the last big jackpots was awarded one of the winners was in a state that does not allow them to remain anonymous and that was one of the reasons why they waited so long to come forward. Evidently they were getting things lined up before the public announcement.

C&CDean

10/1/2012, 10:49 AM

Musta spent some of that lotto $$ on some good heroin. Darwined herself right on out. Stupid person.

KABOOKIE

10/1/2012, 12:16 PM

And there's a reason why 99% of the 43% are on welfare. They're stupid.

badger

10/1/2012, 12:34 PM

Not all states allow you to do that but I think the majority do allow it. When one of the last big jackpots was awarded one of the winners was in a state that does not allow them to remain anonymous and that was one of the reasons why they waited so long to come forward. Evidently they were getting things lined up before the public announcement.

Can't you just lawyer up, have your legal team accept the winnings on behalf of a trust/estate/??? and stay anonymous? Oklahoma is a non-anonymous-winner state and I've seen winners do that to avoid publicity