Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Three Hedge Fund Managers Won $254 Million Powerball Lottery

Three hedge fund managers won $254 million Powerball jackpot. Gregg Skidmore, Brandon Lacoff and Tim Davidson revealed their identity recently. They are asset managers at a small shop called Bell Asset Management. Most of the winnings will be taxed and the three hedge fund managers will only receive $104 million.

This is just not fair. Hedge fund managers shouldn’t pay more than the %15 rate. They did in-depth research and risked their capital to earn this money. They bet $1 and that investment returned 10,400,000,000% in just a few days. Increasing taxes on millionaires will stop investments and increase unemployment. If we want to stimulate economic activity in this country we should reduce taxes. Taxing the lottery winners isn’t the answer to our debt crisis either. If we increase taxes on lottery winners they might want to move to another location where taxes are lower. Most entrepreneurs think this way too. Like most lottery winners, entrepreneurs know in advance that their bets will pay off and they will be rich. So, if we increase tax rates for the millionaires¬† by a few percentage points this will curb their enthusiasm to make risky bets and entice them to move.

Loading Comments...
X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!