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They tax the sh*t out of us here in Europe but lottery wins I understand not; you can't tax a loss so why tax the win?

When you see a $20,000,000 jackpot or some such, that's actually the total value of what they're actually paying you: yearly payments of $X. If you choose a lump sum they cut it down by about 50% or at least discount it a lot.
 
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