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People who win money/vacations on game shows..

Are their lives really better than before or do they end up more dissatisfied like lottery winners?

by Anonymousreply 7July 21, 2021 5:13 PM

When I was a kid, my friend's father went on "Let's Make A Deal" with Monty Hall and Carol Merrill. He won the "Big Deal of the Day" and instead of the prizes, received a check for $8,500. That was a pretty hefty sum for the early 1970s. The family was very happy; my friend even showed me a mimeographed copy of the check. So in their case, at least, it worked out great for them.

by Anonymousreply 1July 21, 2021 4:16 PM

A friend of mine is a producer for Warner Bros TV. He says that a lot of those winners can’t even claim their stuff because you have to cover the related taxes before claiming it and getting it shipped to you. A lot don’t have the $$ to cover the upfront tax bill on the washer dryer/RV/kitchen set etc.

by Anonymousreply 2July 21, 2021 4:22 PM

I knew someone who won money on a game show. They were an insufferable cunt before and pretty much the same after, just, you know, $5K richer.

by Anonymousreply 3July 21, 2021 4:36 PM

I won some money on Jeopardy but it wasn't really enough to change my life. I took a nice vacation with it and that was it

by Anonymousreply 4July 21, 2021 4:39 PM

I paid for grad school and bought a new car off of my game show winnings. It made me very happy.

by Anonymousreply 5July 21, 2021 4:48 PM

R2 - I think that's why they're doing cash supplemental prizes.

Aren't material prizes taxable like income? I don't know for sure about this. It would suck to win a $10k vacation and then have to pay $3k in order to take it.

by Anonymousreply 6July 21, 2021 4:52 PM

Yes, R6, the material prizes are taxed as ordinary income. The presumed value is the manufacturer’s suggested retail price. However the taxpayer can obtain appraisals and other evidence to establish a different taxable value.

by Anonymousreply 7July 21, 2021 5:13 PM
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