$$$$$ THE BIG GAME SHOWS $$$$$

I like math, I always have. I was reading about a women who won a car, and cash in the value of $172,000. Sounds great huh? Here is how game shows can afford prizes like that:

Before the winner can get ten cent of the prize, they have to pay out of their own pocket, all the tax on what they won. Both State, and federal. Plus the tax, and registration fees on the car. The full prize also puts their end of year tax in a high level. The winner would have to spit up about $60,000 cash to get their prize…then pay the State and Fed on their full income for the year. All the prize value is income. Most turn the prize down.

They have to take the prize within a certain amount of time. The game shows are not stupid. It's just a big con game.

Reminds me of when Oprah got all that publicity for giving away cars on her talk show. Except she didn't give away anything. GM donated them and the recipients had to pay taxes and upfront costs that you described (some of whom ended up not being able to afford them). Did that bullshit artist ever get her $40,000 purse? I know the world was very scared and concerned about that.

Anyhow, I don't watch or pay attention to game shows, the stock market is more interesting to me, and unlike a TV game show, I can participate. It's sure on a roll. Loving my GOOG, SSYS and TWTR.

I read article a few months ago about a big winner on The Price Is Right who had to sell most of his winnings to pay the taxes.

If I'm going on one of those shows, I'd rather go on one that simply pays cash cash prizes. That way you just get a check and 1099 form.