The news reports said that after taxes, they will each get $5.7 million. What a ripoff.
$5.7 million in 20 year US Treasury bonds returns about 1% now. That’s 57,000 dollars/year.
Definitely not living large on that.
Granted, but for 5.7 million, Id gladly take that ripoff.
What a ripoff.
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Not really! The biggest reduction is in taking the winning as cash. It is the Net present value of a certain dollar amount taken annually over a 20 year time period. What is left is divided by 2 for each participant. Each participant pays taxes on what is actually received.