I won 2mil in lottery but i'm keepin my food stamps??!?!?!!?
MOST HELPFUL POSTS
Sherri - posted on 07/07/2011
Elizabeth you would probably still work and your also not accounting for all the interest on that money as well. So yes 1 million dollars would last me the rest of my life and that is with a family of 5 and 1 on the way. Right now for our family of 5 we only make $40,000 a yr. So I am pretty certain I could live very comfortably for a very very very long time with that kind of money.
Also you are not adding social security in there as well if your only talking retirement. and also people retire now around 70 yrs of age and only live an avg. of 15yrs once they reach retirement. So you don't think you could live on that, sorry 1 million is an astronomical amt. of money in my world.
Plus he is 59 yrs old I seriously doubt he is raising any children so for 1 person to solely support himself he could do that very easily and live amazingly well for the rest of his life off 1 million. Heck what our family supports are self on would take us 25yrs before interest to go through 1 million.
Barb - posted on 05/21/2011
The actual true problem with this is the state is going to use this asshole as an example and now the people who really need assistance are going to find another way to get screwed.
They will probably set the liquid assets on top of income at 500 or something ridiculous like that, meaning you won't be able to have a car, running or not.
I can't believe they took food stamps away from college kids.. THAT pisses me off even more. A state should do everything possible to encourage college kids to complete their education so they have an educated base to attract employers.
What is Michigan's unemployment rate? 12% The highest in the nation.
Jaime - posted on 05/19/2011
If you read the article it says that he reported his winnings to the State and they told him that he can continue to use the card. He's not hiding his money in a friend's account because he doesn't have to. His winnings are considered liquid assets and aren't taken into consideration when determining eligibility for food stamps...just gross income. What they're saying is that the policy needs to be changed to remove this loophole...he didn't find it, it was already there. Yes, he could just relinquish the foodstamps on his own, but he's choosing not to and he's within his right to do so. I don't agree with what he's doing, and I too am on government assistance, so I definitely know what he's taking away from others in need. The state needs to get that policy changed quickly, instead of creating rising speculation about some old man that won the lottery, that will likely have it spent in a years time.
Let's do some more math.
You can put the million in a high yield savings account and live off interest. Let's pretend the million is going into an account that has 5% interest. 5% of a million is 50,000 every year. Plus you still have the million to fall back on if you are ever in a bind. No, you can't live extravagantly on that. But it should be enough to live comfortably.
As far as the food stamps goes, he's not doing anything illegal. So be it.
A million dollars in 30 yrs. Ok lets divide. That would be around 33,000 a year. Um thats about 2600 - 2800 a month...you cant save money making 33000 a year so no retirement. Thats sounds bareable to be. Does this guy have kids..sorry in the bigger picture 1 mil isnt that much. And in 30 yrs it really wont be much. And at 33000 a year probably stillqualify for food stamps..why wish for something someone else has...
Brie - posted on 07/06/2011
no kidding sherri... that would be enough money to buy at least a decent house a car for me and hubby get custody of my step son and put money up for both kids college!!! seriously??? i come from a poor background i appreciate the REAL value of a dollar.. i would be happy with half that lol!
Sherri - posted on 07/06/2011
REALLY Elizabeth 1 million dollars would be enough for me for the next 30 yrs and that would be living quite comfortably.
You really think that 1 million dollars before any interest would barely make his retirement bareable???
Brie - posted on 07/06/2011
The point is he can afford groceries so he shouldn't take the help from those who need it. Its ridiculous that someone who really needs it can't get it but a man with at least a million dollars can sorry but thats bullshit! He is screwed up for this period. when i was pregnant with my son we couldn't make ends meet and when i went to get put on food stamps (i worked part time at 8/hr and hubby worked full time at 9/hr) they gave us a whooping 16 dollars a month... we needed it but no he keeps it with a million?? i don't care what he is doing with the money he is a selfish no good bastard! period! like the mexicans we see running around here in brand new mercedes designer clothes and jewelry and go to the grocery store and pay with food stamps! (not being racist its a normal occurence!)
Actually I think its very smart of him. Hes not doing anything illegal. And even though he won 2 mil he probably didnt bank but about a million... I personally think it would be very smart to continue getting food stamps and draw interest off the winnings and use it for retirement or maybe hes going to give it to kids or grandkids? Cant be mad if hes not doing anything illegal. As frustrating and hard as times may be for other families..theres no need to be angry with him. thats like saying if you win the lottery u have to quit your job so someone else who doesnt have money can have ur job. 2mil, after taxes isnt a lot of money. Its just enough to make your retirement (not even early) bareable.
Teresa - posted on 07/05/2011
He has to declare his winnings to the state as income. They will take his FS then right?
ETA: I read the article and that makes me sick. Taxpayers should revolt over this. He does not need food stamps. And liquid assets? Please...that's cash...and it buys food. How stupid s the state?
Bevely - posted on 07/01/2011
I think foodstamps, wellfare, and housing assistance, should all be time limited. Like a maximum of 36 months per lifetime. That should be plenty of time for you to get your act together and be able to support yourself. You should also have to pass random drug and alcohol tests. Because if you don't have money for food and housing, then you don't have money for drugs, alcohol, and cigarettes either.
Everyone falls on hard times, and it is great these programs exist, but so many people abuse them. It is pathetic. I don't want to sound like a snob or anything, 5 years ago I was a single mom, making $6.10 an hour working as an ER clerk for the local hospital, going to school full time, trying to make ends meet and got foodstamps for about a year. Until I graduated and got a better paying job.
Christina - posted on 05/21/2011
Yeah, after I left my ex-husband, I had to get a crappy job while I went back to school to complete a refresher course so I could transfer my nursing license. I made a whopping $8 an hour! My boss cut my hours and I was bringing home between $600-$800 a month! My rent was $700. I got $600 in child support to pay for my cell phone (as a working single mom who was also in school full time, I needed a damn cell phone so people could get ahold of me when they had my kids.) my electric, and internet (which was also needed for school since 90% of my exams were taken online.) I didn't get food stamps, or anything extra. I some how pulled it all together for my then family of five!
This man makes me sick.
Jaime - posted on 05/20/2011
I'm not disagreeing that he's being selfish, but it's there mistake, not his. If he was breaking the law then I'd say you all have a case, but since he's not there's not much that can be done about it except for the policies to be changed to prevent it from happening in the future. I'm sure Karma will have a go at him eventually :)
Amy - posted on 05/19/2011
oh, teresa, he probably put it in a bank account of a friend's so he can claim it's not his money, but just has access to it in joint account or some crap like that. or...he spent it all already and needs foodstamps. lol.
but, yeah, the article is right. problem is with the state.
Sherri - posted on 05/19/2011
Ya this frosts my ass HUGE today I went to go get a few things we needed today at the grocery store and my debit card was declined. Why because we paid rent and my hubby got gas in his car. We will now have to go without till my husband gets paid and I had to leave mortified that I couldn't afford $13 worth of things. I could choke that ignorant bastard. and I don't think anyone would blame me.
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