Posted on 08/31/2015 3:11:08 PM PDT by nickcarraway
Hubert Tang is a very lucky man.
As he was walking along the street outside San Francisco International Airport, Tang found a $20 bill.
While most people would consider that find to be lucky enough, Tang says something compelled him to buy a lottery ticket.
Tang told KPIX that he hadn’t played the lottery in more than 10 years, but decided to use his find to buy two “$1 Million Jackpot! Scratchers.”
“I scratched the ticket outside of the store. I told my friend whom I was with that I didn’t know if it was real, but I think I just won a million dollars,” he said.
Tang says he doesn’t have any plans to quit his job or make any big purchases.
Instead, the money has been put into a savings account.
“Maybe I’ll start leaving $20 bills on the street in random places,” he said.
“Charlie and the Chocolate Factory” comes to mind.
That all comes in time, if at all with most people.
Unless he’s debt free, that should be a priority. There’s no guarantee that money will be kept, but at least he would be unencumbered.
Can he drops some $20 near me? =)
Yeah, I wonder if he got his tax bill yet.
I find money fairly often but I never spend it on lottery tickets. Maybe I should change?
I read somewhere that gambling and games of chance cheapen life by mocking hard work, and tend to agree. Bust your ass for forty years, socking it away, and some loser wins the powerball.
Congrats on his good fortune. I hope he is careful with the money. Most people would be surprised how easy it is to blow a million bucks.
I had this happen to me once. /s
He blew $20 he found. There is no difference in the other amount, which was essentially "found" as well.
He'll blow it, I guarantee.
After taxes he will have about $500,000 to 550,000, not a million.
Actually it will be closer to $600k. Incredibly, California does not tax lottery winnings so he is only on the hook for the Federal income tax.
No state income tax on CA lottery ticket winners. He will have $600,000+. Barry “The Mountain Renamaer” Obama will get his cut.
It would be deducted from his winnings at the standard bonus rate.
So, he won't even be able to buy a house with it in most major California cities?
He hasn’t played the lottery in 10 years, and only did so with unexpected unearned money. Maybe he’ll actually handle his winnings wisely.
Sounded more like “My name is Earl”.
America is the land of opportunity!
If he is single:
$119,996.25 plus 39.6% of the amount over $413,200
If married:
$129,996.50 plus 39.6% of the amount over $464,850
So his tax will be in the $350K region, and he will keep $650K. This example disregards his other income.
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