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Millionaires Raked in $80M in Jobless Benefits


 

Here are the numbers for 2009

from WSJ:

Second, even if millionaires don’t deserve assistance, focusing on them loses sight of bigger benefits spending. The 2,362 Americans with $1 million received just $20.8 million in assistance in 2009, a figure that’s just 0.02% of total reported unemployment benefit income and “relatively small,” the CRS says. “The potential administrative costs [of making high-income groups ineligible for benefits] could outweigh the potential savings.” By contrast, there are over 120,000 Americans in households earning between $200,000 and $500,000 getting assistance, to the tune of over $1 billion — and over 800,000 Americans in households earning $100,000 to $200,000 getting nearly $7 billion in benefits. Does someone in a household earning $175,000 really need this assistance either? Where do we draw the line? It isn’t so clear.

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  • Marvin

    This headline sounds bad unless you have an understanding of how unemployment insurance works. It isn’t an entitlement program that pays money willy-nilly to any bozo who is out of work. It is funded by an employer tax and benefits are paid to individuals who lost their employment through no fault of their own and continue to meet all other eligibility requirements. If you complain that the rich guy shouldn’t get his benefits, it won’t be long before the guy making $10,000 demands you be cut off because you have a $50,000 income. Either pull the plug on the entire system or leave it alone.