Believe It or Not: Unemployment Checks Have Been Sent Out to Millionaires
You may not want to believe it but even millionaires draw unemployment checks. Yes! The Congressional Research Service reports, unemployment checks in 2009 went to 2,362 households with incomes of $1 million or more.
Their report states there was an additional 954,000 households earning more than $100,000 a year also received unemployment benefits during the Great Recession. This includes a report from Bloomberg stating, 2,840 millionaire households who received unemployment benefits in 2008, and that 816,700 beneficiaries earned between $100,000 and $1 million that year.
Congress is seriously considering ending this kind of taxpayer support for high earners.
“Sending millionaires unemployment checks is a case study in out-of-control spending,” U.S. Senator Tom Coburn, R-Okla., told Bloomberg in an e-mail. “Providing welfare to the wealthy undermines the program for those who need it most while burdening future generations with senseless debt.”
The Senate is considering legislation that includes a Coburn-sponsored provision to deny unemployment benefits to people with assets of at least $1 million in the year before they filed a jobless claim.
The report by the CRS, a division of the Library of Congress, was released this past August, after 99 weeks of jobless benefits ran out for about 1.1 million Americans. The unemployment rate stands at 8.1%
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