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Post Info TOPIC: WOW! Now THAT'S stimulating!


2011 Super Bowl Champions!

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WOW! Now THAT'S stimulating!


They just showed a woman on the news holding up her government stimulus check!

$250,000!!!

-- Edited by Jeremy Riggs at 21:27, 2008-06-15

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Ghost In The Machine

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What???  That can't be real. 

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2011 Super Bowl Champions!

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It was. It was a mistake.

THey called the IRS and were told they had 21 days to return the check.

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Ghost In The Machine

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Oh wait, she probably got your check JR, and everyone else's too that is supposed to be mailed out.  You better find out where she lives and demand your money, now!!!!  biggrin

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2011 Super Bowl Champions!

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She's not too far from here.

THey said for the first two days they were seriously thinking about cashing it, but the husband was smart enough to say no.

The woman was still saying "It's there mistake, we should be able to cash it".

Uh, yeah. If only it worked that way.

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Ghost In The Machine

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Good thing her husband was the smart one.  Try paying back $250,000, ha. Good luck with that!! 

But I might have thought about cashing it, sticking it in the bank, draw the interest while waiting for them to ask for the money back.  biggrin

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2011 Super Bowl Champions!

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Good thinking Sandy.

Stick 250,000 in a standard Money Market account at 5% annual interest and that's ironically 1040 in interst in one month (well, ok, it's $1,041.00)

That's what kills me. You don't need to be rich. Put $500,000 in a money market and you can almost live off the interest.

If I ever won the lottery I'd put my $5 million in the bank and just live off the interest for the rest of my life.

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Ghost In The Machine

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Oh heck yeah!!  There's no way I'd go on a huge shopping spree, and spend that kind of money.  Investments, here I come!!  smile

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Permanent State of Confusion

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While putting the $250,000 check in the bank to collect interest seems like fun, the IRS will want the interest on the money they gave you that you shouldn't have received. Yes, they are really like that. And I will bet the interest you will owe the IRS will be more than what you earn.

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2011 Super Bowl Champions!

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Leave it to an accountant to burst my financial bubble no.gif

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Permanent State of Confusion

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Jeremy Riggs wrote:

Leave it to an accountant to burst my financial bubble no.gif



Sorry, but you know I am just here to provide a reality check. I have to keep you grounded.

It is nothing like my whole winning the lottery thing.

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2011 Super Bowl Champions!

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It's ok. I knew cashing the government check would be a mistake and never would have done it.

But if I had my OWN money, I'd live off the interest.

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Permanent State of Confusion

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Yes, that is exactly what you do. Good boy. That is my plan after I win big money. And when I have those millions, I am going to walk into the bank and tell them I will put my money here but I want 10% interest a year. And use it like a negotiating tool.

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2011 Super Bowl Champions!

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Because of gift taxes, I've always said if I won REALLY big, like 60 million, I wouldn't give my family any of it.

Instead I'd put $2 or $3 million in a seperate money market for each of them and let them have the interest every month for the rest of their lives.

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2011 Super Bowl Champions!

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confuzzed wrote:

Yes, that is exactly what you do. Good boy. That is my plan after I win big money. And when I have those millions, I am going to walk into the bank and tell them I will put my money here but I want 10% interest a year. And use it like a negotiating tool.




 Ooh yeah, with that type of a deposit you could probably get better interest.  They'll certainly make enough off of it in loans and such.



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Permanent State of Confusion

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Jeremy Riggs wrote:

Because of gift taxes, I've always said if I won REALLY big, like 60 million, I wouldn't give my family any of it.

Instead I'd put $2 or $3 million in a seperate money market for each of them and let them have the interest every month for the rest of their lives.



That is right. With the gift limitation of $11,000/yr, my family isn't worth the extra taxes for me to give them more. What I will do is pay their expenses. I will write the check to payoff the house and the cars. That is not considered a gift, I am simply paying the bill. The mortgage company doesn't care who pays the bill, just as long as they get their money. I will set up college funds for my nieces, who knows how much college will cost when they get there in 10 and 14 years.

You think I don't actually think about this once in a while?



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