If I won a million dollars, I don't think it would last long. First I would get a home so I wont have to live with my parents. Then I would have to spend 15 thousand dollars to get three of my teeth fixed. Then after all that I probebly have to get a driver because I can't drive!
You Americans need to win the Canadian lottery - we win it all at once, there is no tax on it even. But of course, any interest you earn on it is taxed at the same rate as your regular income - unless you invested it, that is taxed at a separate rate, usually less. Believe me, I've already checked it out - and I used to work for the CCRA (Revenue Canada, the Canadian equivalent of the American IRS)...
Melisma, Luck you. But if you take canadian $ and divide it by the exchange rate, you get far less then if you've won American $ and take it to Canada with you. Then you would multiply the American dollar by the exchange rate and vola, you money doubles.
I know I wont be happy with one million. I like to see it to be more then 10 million.
I wish congress would abolish the sweepstake taxes. Greedy congressman!
:rolleyes:
