Man Wins $2M Lottery and Still Receives Food Stamps

that's crazy.

 

What I find especially egregious about this is that the guy who won the lottery checked with the state and they told him he could still use the food stamps!

They don't consider his lottery winnings income, but "liquid assets", but I'm sure his winnings were taxed as income... Very odd.

 

I'm going to go ahead and say it...I bet more then half the people getting food stamps are scamming the system one way or another.

 

Yeah you may be right. but on the other hand I think its bull that the state of Mi don't care that this guy is doing this there are ppl out there that are getting denied when they need it more I hope they fix this loop hole soon

 

Well, if the guy has half a brain he will hire an investment banker to invest his money (at 3% interest thats $60000a year). HE could comfortably live off the interest and never touch the initial investment. OF course now he has income in the form of interest and that will cut off his meal ticket. So in the end the problem will fix itself.

The state of Ia recently discovered that x million dollars in food stamps was being spent out of state. What they suspect is happening is that people are selling their cards for cold hard cash to buy anything the card won't buy...

My solution is, if you have money for travel you don't need food stamps. The biggest problem I see is that most food stamps seem to go to families. What will happen to the kids?

 

It is ridiculous. The man has found a loophole and is receiving ~3000 per year he shouldn't.

He has been torn apart on every forum I read today.

However...

Oil companies receive billions of government money through a loophole their gives tax breaks for keeping manufacturing in the US.

Developers and wealthy land owners in western states recieve millions in property tax breaks by getting their land classified as agriculture.

Large corporate farms make millions in profits but use loopholes to receive millions in subsidies.

GE has 14 billion in profits but still gets a 3 billion dollar refund... thanks to a department of over 1400 tax experts whos job it is to find loopholes.

When the wealthy and businesses use loopholes to get millions (billions) from the government they are 'smart capitalists' but when some loser gets a few thousand because of a loophole he's the scum of the earth.

 

aint that some BS i live in VA and i live in my own apartment ... i work part time and go to school full time and me making 10$ an hour i still dont qualify for food stamps in my state now how is that for some bs
i just think its cuz of my skin color

 

eh?

 

haha its cuz i am white (no raical intended)

 

Amen

 

no the difference is smart capitalists are using loopholes to keep their OWN money......... this guy is using one to take some of MY money

thats the biggest thing people fail to understand when whining about corporations who pay little taxes etc......... the govt is not giving them money..... its just taking less of the money the company earned earned

to be angry about a company who uses a loophole to minimize their tax burden you would have to believe the govt owns 100% of all incomes and they simply allow us to have some of it

 

Really?

GE did not pay taxes this year.

They got over 3 BILLION dollars of YOUR money.

This guys getting about 3 thousand dollars of your money.

And of course people like you fail to understand the taxes companies pay go to pay for services companies rely on.

None of the financial companies in the F500 would exist if it wasn't for the Federal government funding their businesses.

There would be no space program without the government... the huge media/telecommunication companies would not exist.

No patent/copyright protection... no incentive to create anything... it would just be copied.

Air travel and other transportation... forget about it on a large/global scale.

You think immigration is bad now? Think about what completely open borders would mean?

No police/fire/military? No property rights.

Take a look at some 3rd world countries... that's what we'd become without government.

Those sevices cost money... every dime a company doesn't pay in taxes because of loopholes is a dime YOU pay.

 

So you don't want these businesses paying for all the advantages they get from the government ?;
Roads, Airports, Railways, Statistics, Education, Healthcare, Environmental Regulations, Police, Military, Having the gov brutally enforce their interests abroad, water supply, electrical supply, Parks...
You think they should not pay anything for all that?

 

thats a just plain silly argument at the very least......... the reverse could also be said............ not a single thing on that list would exist without GE....GE is responsible for some component in every one of em.... we could play that game all day....... not a single thing on that list would exist without spiders... without spiders other insects would be ruling the world and there would be no human companies.......... Im not funding spider populations........ and the govt does not own 100% of my companies income nor my personal income and allow me to keep what they dont need

tax money does not belong to the govt....... they take it from the people/companies............ if a company pays less that doesnt mean I have to pay more......... it means the govt has to SPEND less

as I said you would have to believe the govt owns your entire income and are gracious enough to allow you to keep a portion of it to even remotely believe anything like that

this has nothing to do with govt services or the good of the people...... even if you accept that every service the govt provides is needed it still has nothing to do with this situation ........ or GE/other companies that jealous people love to whine about (nobody in particular just those wearing the shoes that fit)

get over the class envy...... its 2011

now after slapping down that absurd version of reality...... back to topic....... GE paying less of THEIR money in taxes and a guy getting some of MY money in the form of welfare is no where even remotely close to the same thing.......... GE starts out with 100% of their own money....... I start out with 100% of my own money......... this guy starts out with ZERO of his own money.........this year GE (using established law to recover previous years losses........NOT A LOOPHOLE (for any mentally challenged readers.... nobody in particular, just those wearing different colored socks and licking windows on the bus) paid little to no taxes and kept closer to 100% of THEIR money...... this year my company and me personally paid our normal amout of taxes and kept our normal amount in relation to 100% of OUR money....... this year this guy paid zero taxes and received welfare for doing nothing but sitting on his arse and ended up with more money than he started out with in the form of food stamps

if a person cannot see that difference then theres no reason to continue discussing it

the sad part about this story isnt that hes going to continue getting foodstamps despite having more money than most of you will ever see........ its not that fact that the state knows the situation and cant do anything about it............. the sad part is that the guy has been all over the news sayin neener neener neener...... too bad so sad for you....... blah blah etc etc....... hes actually proud and bragging about it............ thats the truely sad part

the other sad part is thick headed people making me actually defend GE after all the dirty dealings with obama simply because they cant comprehend how the real world works

 

I wouldn't say half, but yes a fair chunk are abusing the system. It is great that we try to help those in need, but we don't enforce measures that can remove abusers from the system. I have had friends on welfare and food stamps with 2 cars, the rule is one, as well as three 1995-1999 jet skis. They lied on their application and no one has ever checked the validity of their story.

 

You know what grinds my gears??
lol

 

but many of these companies do pay taxes, just not to the us.
they have other corporation in lower rtax countries that they lease patents from, ect. thereby sending money out of the us

if the use would lower corp tax rates to compete they would see a net increase in income

What The Top U.S. Companies Pay In Taxes - Forbes.com

 

Its not really about the base rate
For instance in France, which is pushing for an EU set corporate tax rate, many companies pay sweet f all

Lowering the rates is giving in
The governments of the industrialised and rapidly industrialising world must work together to ensure corporations pay their fair share

 

what is that fair share? 10%, 30%, 50%?

an remember its taxed again as income to the stockholders after dividends