Not exactly. The 70% is only charged against income above a certain level, not on all income.
Not that’s it’s a good idea...
You’re correct, but the point I was trying to make was that by winning the lottery you would think you are set for life- but when the government TAXES IT ALL as income for that year, you lose most of it.
If you think you were going to take $100,000 for the next ten years and budget it wisely, you can’t - you’re back to work the next year... as if it never happened.