One of my favorite movies to quote is "Raising Arizona." When the lead character gets a paycheck - and is stunned by the amount withheld in taxes - the women who pays him says, "the government DO take a bite!!!!"
Ask James Holzhauer.
The 33 consecutive games champ racked up nearly. 2.5 million dollars in winnings during his time on the show, but Uncle Sam and two states get about half of it. The Action Network says not only does Holzhauer have to pay the federal government and Las Vegas (where he lives), but because the show tapes in California, he also has to shell out 13.3- percent to them.
All told, that comes out to 47.6-percent of the champ’s winnings. The final check he received had it all taken out.
THAT story made me think of the instances where lottery winners take the lump sum. Speaking of which...
A North Carolina man is celebrating his huge Powerball jackpot win.
Charles W. Jackson Jr. claimed his 344-million-dollar prize yesterday after picking all six numbers in last weekend's drawing. The lucky winner is taking the lump sum option which is 223-million-bucks.
The government DO take a bite.