To: Conagher
Remember one thing kiddies. Taxes. The feds get another round of taxes out of this cash.
Not a tax man but I think they get over 30% of the lump sum up front and nearly 60% when the "winner" expires from lung cancer.
That's 90% to the feds. That's quite a reduction in the jury award wouldn't you say?
To: Amerigomag
Let's see, compensatory damages are tax-exempt, but punitive damages are lumped in with income, so that would put him in the Bill Gates tax bracket. I don't have my tax table handy -- anyone know what the percentage is for someone who makes $28,000,000,000?
19 posted on
10/08/2002 7:51:41 PM PDT by
Conagher
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