Some 3,000 Millionaires Claim Jobless Benefits, IRS Data Show

[Elmore Furth]

I've read about all of the welfare for the wealthy but this is really disgusting.

After the economy slipped into recession in 2008, millions of Americans received unemployment benefits to make ends meet -- including almost 3,000 millionaires.

According to U.S. Internal Revenue Service data, 2,840 households reporting at least $1 million in income on their tax returns that year also collected a total of $18.6 million in jobless aid. They included 806 taxpayers with incomes over $2 million and 17 with incomes in excess of $10 million. In all, multimillionaires reported receiving $5.2 million in jobless benefits.

Those numbers are a minuscule fraction of the 9.5 million taxpayers who reported receiving $43.7 billion from jobless benefits in 2008, up from 7.6 million recipients reporting $29.4 billion in benefits in 2007. Still, economists said they are surprised so many people with seven-figure incomes claimed benefits.

“It’s a larger number than I would have expected,” said Alan Viard, resident scholar at the American Enterprise Institute, a Washington research organization. “But, people at any income level can lose their jobs.”


Some 3,000 Millionaires Claim Jobless Benefits, IRS Data Show

[Travis_0004]

1. If they did loose their job, and are unemployeed, I see nothing wrong with this

If somebody makes over 1 million dollars, that means they have paid thousands and thousands of dollars into the unemployment system. If they are in fact unemployed, who cares if they get some money which they have paid into.

[Iterate]

2. Good. I shall give them counseling and a drug test.

First thing in the morning.

[Codeine]

3. It's not a means-tested benefit.

If they qualify they should receive it.

[pnwmom]

4. I am surprised that they would subject themselves to the tedium and indignity

of the process. All those long lines, all those wasted hours . . . for payments that couldn't have been much compared to what they were used to.

[notesdev]

5. If you made $1 million and spent two...

Lotta "smart" people got crushed in real estate too. Wouldn't be surprised if some are collecting to put food on the table.

[REP]

6. It's not welfare and it's not "disgusting"

Workers pay into Unemployment. If a worker loses employment and meets the guidelines, the worker is allowed to collect unemployment payments. It's not means-tested and it is most certainly not welfare.

[Elmore Furth]

7. So you think John McCain deserves his $1,950 per month in Social Security Benefits?

McCain is worth over $20 million and calls Social Security 'broken.'

Corporate welfare is estimated to cost the US between $65 billion and $167 billion per year. You have millionaire farmers getting subsidy payments from the government.

http://www.uml.edu/com/cita/Dan%20Egan%20Paper.pdf

I think this kind of gaming and gouging the government is disgusting.

I think it is disgusting that hedge fund managers averaged $1 billion in compensation last year.

http://www.huffingtonpost.com/social/Raphi/the-super-rich-get-richer_b_737792_61556729.html

I think it is disgusting that we have one of the lowest REAL corporate tax rates in the world because of all of the loopholes.

I am disgusted the wealthy use more than their share of public services while complaining about taxes.

And I am really disgusted with people who apologize for the wealthy and expect us to feel sympathy like Mitch McConnell who tells us Obama’s plan to not extend tax cuts for the wealthy would hurt “the people who’ve been hit hardest by this recession.“

[marybourg]

10. I would be very happy to have McCain lose his job & collect

unemployment insurance. In fact I'm doing everything I can to see that it happens. Actually I don't think defeated office holders can collect

[ProgRock8]

8. Smart businessmen

[caledesi]

9. Welfare?? It's unemployment INSURANCE! nt

[Vickers]

11. You consider Unemployment Compensation welfare?

Interesting...