With all the moaning about public sector pensions, it’s good to know that one retired educator won’t have to worry about what Governor Cuomo does.
Retired principal Harold Diamond won $326 million, the biggest lottery prize in Néw York history.
“Diamond worked for 39 years in the Monticello School District and was principal at George L. Cook Elementary before he retired in 1995. [His wife] Carol Diamond is a 36-year veteran of the Goshen School District where she taught math at Goshen High School before retiring in 1994.
“Diamond opted to take the cash value, a single lump sum payment totaling $197,456,087. His net check will total $130,676,438 after withholdings. He said his plans for the money include helping family and “giving back to the local community.”
Hopefully, the lucky Mr. Diamond will help his local school districts survive the state’s tax cap, budget cuts, and other financial handicaps.
It is wonderful to see a couple who have devoted their lives to public service hit the jackpot. Millions of other educators are not so lucky and must depend on state and local officials to value public education and their dedicated service to our nation’s children.
Diane Ravitch's blog 
Wonderful!
Maybe millions of teachers should buy lottery tickets, form groups, and possibly beat better odds than fighting & hoping for PublicEd to survive & prosper once again. 🌈🌠
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State lotteries are really not something we should be supporting. They’re just another regressive tax – a way to balance the budget on the backs of the poorest (and most gullible) people (not to mention usually rife with organized crime influences). I’m happy for Principal Diamond – I hope it works out for him. The statistics, however, show that many people who win the lottery tend to end up back at square one within a decade. This is not sustainable.
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I’m happy for Superintendent Diamond too. Now, if only the NYS Lottery proceeds were actually funneled into the education system as promised . . .
But, some more bits of good news out of NYS. Parents are not exactly flocking to request copies of teacher ratings as they are allowed to do now, and are even skeptical of the value of those ratings.
http://www.newsday.com/news/region-state/few-parents-seeking-ny-mandated-teacher-evaluations-1.9795200
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I’m also happy for principal Diamond and his wife, they seem like a lovely couple and are likely to do some good with their winnings. Principals get very good pensions, in the $80k to $100k(plus) range, at least here in NJ. With his pension and his wife’s pension, I’m sure the Diamonds were living very comfortably. They didn’t even need this huge fortune but good on them anyhow.
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“Hopefully, the lucky Mr. Diamond will help his local school districts survive the state’s tax cap, budget cuts, and other financial handicaps.”
Mr. Diamond’s former district is spending only $26,775 per student for the 2014-2015 school year. His wife’s former district is even more dangerously impoverished, managing to scrape together a mere $23,000 per student.
While it’s certainly not hyperbolic to use the word “survive” in light of such numbers, I can’t help but wonder whether there are just a handful of organizations, perhaps in Sullivan County, perhaps elsewhere, that might be facing a more pressing financial need. Perhaps some of the educators who regularly post here can list some suggestions.
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The Network for Public Education would gladly accept whatever gift Mr. Diamond may feel moved to offer
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That’s a fully transparent 501(c)(3) organization, not one of those nefarious “dark money” 501(c)(4) outfits that the Koch Brothers use to subvert democracy, right? Just making sure. Plus, even with $130 million in the bank, I’m sure the Diamonds would appreciate the tax deduction!
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Definitely. And $130 million sounds pretty light on the withholding. He might want to brace for a $30 million tax bill.
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For those of you always clamoring for higher taxes, just look at the number the Federal Government t and the State of New York did on this man’s winnings. Straight up theivery!
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The poor man will only be left with tens of millions. Oh horrors!
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$30 million tax bill, oh no, he’ll only be left with a paltry $100 million. All that for an investment of a few dollars. I would gladly accept such a deal.
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That’s not the point knucklehead! The point is two thirds of his money is automatically stolen from him for no apparent reason at all and that money will be spent who knows where with zero oversight whatsoever. All while the richest individuals stash their money offshore and avoid paying anything at all. Let’s lower the ratios so that maybe you can comprehend. You win 500 bucks at the casino and the predators swoop in and take their cut and leave you with roughly $170 dollars. Get it now or that still OK with you!
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The facts don’t hold when you lower the ratios because the tax rate would be lower.
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I understand how one would feel instantly happy for the man’s good fortune, a man who spent his career in public service. I would like to be happy for the principal, but I have mixed feelings. My brother once owned a convenience store. He told me it was mainly the most down and out people who came in and bought lottery tickets. Homeless people, people on benefits, etc. They would spend their last dollar with the hope of winning big. He said he found it depressing to watch these people throw their money away day after day. It’s like they are tricking poor people to earn revenue. That’s screwed up.
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This is true but many of those low income people have won it big. However, subsequently most lose it all due to the lack of a sound education. We do see this all the time; especially with millionaire athletes, but again who are we to dictate what others do with their own money. I can thank the career of teaching for one thing and that is the ability to become a master in the field of budgeting.
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What percentage is “many of those low income people”?
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I am going to start playing the lottery…
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Who cares what percentage of low income people win the lottery. The fact is they do win. You can’t control what socioeconomic group wins something that is predicated on pure luck nor can you force someone not to spend their own money on something that mathematically is near impossible to achieve. So what’s your point?
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Oh no, please Susan, listen and read Dienne’s post, the Real One’s post, and annat’s post.
However, welcome to play once-in-a-while whenever there is the big Jackpot. Otherwise. please do not put your hope in the criminal scheme because money only buys us the convenience, but a lot of trouble from many sudden BEST FRIENDS whom you have never met before, like investors, accountants, and many charity organizations for all of world problems. Most of all, watch out for “protection” offered from YOU KNOW WHO?
We only need health and a good company of civilized sentient beings in wherever we live and work. We DO NOT absolutely NEED lots of money, but only CIVILITY is matter the most to our well-being. Back2basic
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