Mega Moola Giveaway!

[swestrup]

Here's a serious question on a silly topic (or something like that -- ):

Would you except a no-strings-attached gift of $50,000 Canadian, from me?

You see, I sometimes fantasize about winning 10 or 20 million dollars in the Lottery. I've often thought that if I were to win such a huge chunk of cash, I might want to spread the love around and earmark 1 or 2 million to be given away to various friends and relations in $50,000 chunks.

I figure that 50 grand is enough to make a real difference in someone's life, but is small enough that I wouldn't mind giving it away. Too many of my friends seem to be spending their time working at stressful jobs when they could be much happier if the money wasn't so tight. Heck, I know *I* would be much happier if the money wasn't so tight!

The sticking point is: its money. I can easily imagine that many of my friends would refuse the gift in the worry that it might somehow affect their friendship with me, or that it would feel like a handout, or that they might somehow feel obligated to me, so here's the question:

Would you accept such a gift? Why or why not? And none of this "You'd never give me any money -- I am not worthy" nonsense. Sure, I wouldn't give money to everyone, but I'm more interested in how people think about this subject, than about their estimates of their chances of me giving them money. After all, its not too likely that this fantasy is likely to be real any time soon now, is it?

Comments

[joenotcharles.livejournal.com]

Of course I would.

I would probably turn right around and donate it to charity, but I would accept it and then donate it instead of saying, "No, why don't you give it to Doctors Without Borders instead?" That way it's clear that my accepting the money and my deciding the best use of it is to give it away are separate decisions and I'm not denying your gift.

[thebabynancy.livejournal.com]

I've said it once, and I will say it again: I was raised in polite society to believe that talking about money, in any context, is uncouth.

[pphaneuf.livejournal.com]

You know, there are some societies where it is considered impolite not to make loud slurping sounds while you eat and belch a good one when you're done.

[thebabynancy.livejournal.com]

I was not raised in such a society...

desolee.

[pphaneuf.livejournal.com]

Possible. But it just goes to show that assuming that one's proper etiquette is another's utter impoliteness.

Reminds me of a certain country flying soldiers all over the world to teach them the proper way, their way. 'Cause really, anything else is obviously wrong.

[thebabynancy.livejournal.com]

There's a reason why it's referred to as polite society... while filled with the elite and stodgy... you should know something about it... given your affinity for tea.


*cackles*

[pphaneuf.livejournal.com]

The proper way to drink tea is in fact while making slurping noises (to mix in some air in the mouth, that you then blow out your nose to improve the tasting experience). How ironic.

I still think that it's meta-polite not to point out impoliteness. Follow your own ways, let others follow their own without judging them. No one's forcing you to explain your money things to anyone.

My ways are to spit on unjustified all-encompassing ideologies that say things like "in any context". Hardly any rule applies universally, and believing so only promotes the lack of thinking for yourself. If polite society is a bunch of brainless zombies, I want nothing to do with it, and shall be impolite.

[xipetotec.livejournal.com]

I've gotta say after the obligatory "Wow, this is way too much, you shouldn't have" I would have to accept it :) ... I think the only time it hurts a conscience is when you know the person is putting themselves out. But if you had just won MILLIONS! who am I to argue with a lil 50k gift :D

[sps.livejournal.com]

The problem is, I would have to insist on paying for my share of the investment, including all the non-winning tickets that were purchased before your number came up, and that's probably more than the value of the gift - which is why lotteries are profitable.

But of course, if you ask the question the more logical way round - 'I have this lottery ticket habit and I'd like all my friends to chip in $50,000 in the hopes that I will finally win' - I'd have to say, dude, why not buy a suit of armour and stand on the top of a hill screaming 'all gods are bastards'? ;)

Then again, if we were to assume that you came into your millions simply as the result of an Inadequately Explained Plot Device, I guess I'd say 'sure, if you're sure you won't miss it.' And then agonise over the best thing to do with it....

[swestrup]

I sometimes fear that by the time I get such a windfall, I would already OWE you 50K anyway, so the 'giftness' of it would be kinda moot...

[lasher.livejournal.com]

Ofcourse, I would never look at gift horse in the mouth and would be happy that you even thought to share such a large sum for me...

However, consider this. In the US, you can give a tax free gift of $10,000 per person per year. Otherwise, the recipient looses approximately 25% of your generous gift to the US Government. I personally would rather take a lesser gift amount than to give some of your money away to "uncle sam". Sure, I would net more $$ from a 50,000 gift than a 10,000 gift... but about $12,500 is lost to taxes. Though you could just give me 10,000 a year for 5 years and achieve the same thing.

darn taxes! how does the Canadian tax system work in terms of monetary gifts?

p.s. I think of the same scenaio alot. I have thought of various ways to give money and assistance to my family and friends (and also weighing tax implications) if I were to win a huge sum of money. For example... here... I could set up what is called an "AB Trust" and be a co-trustee with whomever I wanted to have the money. In this form of trust, up to 600,000 per trustee is tax free. I could stick a bunch of money in the trust, name them a trustee... and then they can just pay themself out of the trust. Ofcourse, I would do things like buy a house for them (my family that is) and stuff like that too... and all of my friends and extended family would get 10,000 gifts every christmas!!

[swestrup]

In Canada all lottery winnings are taxed to the lottery company, not the winner. This means that all winnings are essentially tax free.

There is also no tax on gifts, so I can simply give a large sum to whoever I want in Canada, no problem (other than, like, having the large sum to give...)

[lasher.livejournal.com]

wow!!!! that's cool... especially because here, not only does the person that I give a gift to have to pay taxes on the money that I would give to them... but *I* would also have to pay capital gains tax on the total sum won.

anyway, i really like that you would think to share your new found wealth with family and/or friends. maybe, i like it because it was something that i would do as well.. and people are generally drawn towards people that have similar ideas. the willingness to share fortune with others is a trait that I very much admire

I would.

[sandman7.livejournal.com]

I would take it because I believe in the ability of some to just give something to others to be a good person.

If I have more money than I need to live (Say 2 Million), which could last me a very long time if used properly, Than I see myself as being selfish and wrong to keep it all when others could share in it.

So I would share it with others.

So if you wanted to give some to me I would see it as you acting in the manner I would and so I would not refuse it out of politeness and encouraging you to act in a way I think is laudable.

That's my reasoning anyway.

Ta Ta for now.

[http://users.livejournal.com/_grey_knight/]

Totally understandable fantasy. Totally.

While I don't believe that it is ungraceful or awkward to accept your gift (you have stated it is a free and clear gift) I do believe that you could find better avenues to place it. I would also kick myself many times for turning it down, but there you go.

My work, while not tremendously personally rewarding, is more than sufficient to pay my bills with left overs. I do not feel a need to be greedier than I already feel.

I would be interested in hearing how you would react to that exact same situation - here you go, Sti, 50 large, no charge.

[swestrup]

I've always tried to accept gifts graciously. I would most definitely say 'Yes, thanks!' to that kind of gift.

[skjalm.livejournal.com]

Since I'm fortunate enough to have a decent paying job and (when needed) support from my loving parents I hope I'd say a very polite "No thank you" to that kind of gift. See, I'd just use it on pure luxury and I think there must be someone out there who could use it for something better than that.

What I'd far more like, however, would be a plane ticket to Canada so we could meet face to face. I like to think we'd both get something out of this.

Spreading the wealth

[helenkacan.livejournal.com]

I was amused by your theoretical offer because I have contemplated doing the same thing, had I won millions the last time I bought a lottery ticket (I think it was in 2004). Had I won the grand prize and been the only winning ticket, I would have immediately shared the wealth by giving each of my co-workers (NOT managers!) 50 to 100 grand. I would have done it because it would not have really cut into the winnings. But I would have also wanted my co-workers to be happy that I had won and could now afford to quit my job (assuming that was financially feasible). I did not want to leave in a cloud of resentment. [Boy, what makes her think she's so special?]

So, if you were to offer, I would graciously accept. It could mean paying off some bills and having a fun vacation or finally being able to afford a "proper" wedding!