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Brass In Pocket

Brass In Pocket

And brass neck too

by Toni (Tue Feb 09, 2010)
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I read recently about Michael Carroll, who won £9.7 million on the Lotto in 2002. Apparently he has spent the entire amount and is now claiming unemployment benefits. He admits to spending a large amount on drugs, gambling and prostitutes (after his fed-up wife departed), although he also gave millions to friends and family.

I have often wondered what it would be like to win a vast amount of money. Time after time we see people who are ill-equipped to manage their winnings and who become prey to Uncle Tom Cobley and All (Ltd). Indeed, Mr. Carroll is actually quoted as saying he was ‘glad it's over' when he finally spent the very last of his winnings. It's as if the money was a double-edged sword. It's almost possible to feel sorry for him as he breathes a sigh of relief to be living on his £42 per week dole money.....

Except for the fact that it's at the tax payers' expense. Granted, he would have paid a pretty penny in tax on almost ten million quid, but he gave not a thought to his future. Don't get me wrong, I fully support the notion of those that can pay taxes to support those that can't. I voted for Obama despite dire warnings of a tax hike to support his ‘socialist/communist' policies, but I draw a big fat line when it comes to scroungers like this. I'm sure there are incomprehensible rules which make no distinction between Mr. Carroll and deserving recipients of benefits, but it's time for reason to take over.
 

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UKer
Posted Fri Feb 12, 2010 at 10:00 pm Reply Delete
Actually, he would pay very little tax, other than on the interest earned on the money in the bank. Lottery winnings are tax-free in the UK, and paid in a full in one lump sum.Report Abuse
Posted Tue Feb 9, 2010 at 5:52 pm Reply Delete
I think I wouldn't mind winning as a test to what I would do with the money!Report Abuse
Posted Tue Feb 9, 2010 at 4:39 pm Reply Delete
Hasn't everyone had the fantasy of BIG WINNINGS and how we'd use it? I can't comment on Mr. Carroll but I know I'd give away money to family and charities I like and then take a trip around the world to see how my money is being used....Smile Train, Finca, Nature Conservancy, etc. What fun!Report Abuse
That Girl
Posted Tue Feb 9, 2010 at 10:42 am Reply Delete
Maybe with that kind of payout part of the condition of winning is that you seek sensible advice lol. My Dad used to talk about how if he did play the lottery he'd stick it in the bank and just live off the interest it would earn. He'd do things like pay of the mortgage and things like that but that would be it. He'd carry on working because other wise he'd go crazy being at home all the time.Report Abuse

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