What a Libertarian would do with a $425 million Powerball jackpot

by KARL DICKEY, Examiner.com  |  published on November 28, 2012

With no winner in Saturday evening’s multi-state Powerball lottery, the jackpot has grown to an estimated $425 million which will hopefully go to one or more lucky winners on Wednesday, November 28, 2012. We thought it would be interesting to fantasize about if a libertarian won such a windfall, what would he or she do with the winnings.

Right off the bat, the winning libertarian would not be happy as the tax man cometh and would slice a big chunk off the top. Assuming the winner takes a lump sum payout and the taxes are taken out immediately, the libertarian would only have approximately $208,725,000 left of the $425 million. And that’s before he or she even bought their first thousand rounds of ammunition. A Florida libertarian resident could expect a little over $10.5 million income each year for 30 years if they did not take the lump sum.

John Sottilare, the newly elected chairman of the Libertarian Party of Palm Beach County, said today, “I would start several franchise businesses, such as Dunkin’ Donuts, and have all the profits go to charities. Also, I would build shelters to help the homeless get back on their feet.”

Kristina Carmichael of Palm Beach County, a former Ron Paul volunteer organizer turned Libertarian registered voter said, “First, I’d calculate what I’m going to owe the government in taxes. Second, I’d pay off my remaining 3K in debts, buy several whole life insurance policies and hire a Libertarian investor to help me keep as much of my winnings out of the government’s grubby paws as possible.” Texas Republican Congressman Ron Paul is famous for having a sign on his desk stating, “Don’t Steal. The Government Doesn’t Like Competition.”

Benjamin Stille, a Boynton Beach, Florida financial advisor said, “A libertarian should, first hire the most knowledgeable tax, asset protection and financial professionals they can find. Believe it or not there are very complex strategies that can limit your tax liability and asset liability exposure.” He then added, “Next a true lover of liberty, should do his best to become self sufficient. Deploying his or her newly acquired resources wisely into quality investments, looking for ways to diversify from the dollar and dollar backed assets. Possibly even starting a business or fostering someone else.”

Stille noted later how libertarians are one of the most voluntarily charitable of people and the government is force by closing with, “Lastly, a libertarian should make sure to be very generous with their good fortune. A ‘true’ Libertarian believes that ‘being his brother’s keeper” actually means he or she is commissioned to be directly involved in charity and the help of those less fortunate. We believe that government charity is corrupt in that it has violence at it’s core, ‘We [the Government] will throw you in jail if you don’t pay your taxes to support our programs.’ That would be like the Salvation Army Santa going around with a gun and mugging people as they came out of Walmart. Then putting the money in the little red bucket and calling it a donation.”

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