PowerballSince everybody else is talking about it, I figure I might as well, too.

Powerball. It’s offering a record-breaking $1.5 billion payday if you (and you alone) win. (Of course, to get the $1.5 billion, you have to take it over 30 years; otherwise, you can choose a $930 million lump-sum payment.)

I don’t plan on talking about the futility of winning, or whether you should play. I’d rather talk about the taxes that the lucky winner will end up paying.  Continue reading