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2,362 U.S. millionaires went on unemployment insurance
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rath
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September 8, 2012 - 4:03 am
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Law dictates that unemployment benefits must be paid to all, regardless of income

When a U.S. laborer draws unemployment benefits, it's usually thought of as a reduction of a standard of living to one who had previously been reaching a standard of living. What many people don't know is that workers earning million dollar salaries, who were then let go, still drew unemployment benefits afterwards.

Funded by a payroll tax assessed against all workers. Department of Labor regulations require that unemployment benefits must be paid to all unemployed workers regardless of their income.

LOS ANGELES, CA (Catholic online) - In fact, there were 2,362 people who earned a million dollars or more in taxable income in 2009 that received federal unemployment benefits that year, according to a report by the Congressional Research Service. These aforementioned millionaires collectively raked in more than $20 million in unemployment benefits.

The report, from the Congressional Research Service report was published earlier this month and was based on the most recent data available from the Internal Revenue Service.

"Among tax filers with AGI [Adjusted Gross Income] of $1 million or more, 2,840 reported receipt of unemployment benefit income in 2008 and 2,362 tax filers reported receipt of unemployment benefit income in 2009," the CRS reported.

Millionaires received $20.8 million in federal unemployment benefits in 2009, up from $18.6 million in 2008, averaging out to $8,806 in unemployment benefits per millionaire.

Funded by a payroll tax assessed against all workers. Department of Labor regulations require that unemployment benefits must be paid to all unemployed workers regardless of their income.

"This requirement is based upon a 1964 U.S. Department of Labor (DOL) decision that precludes states from means-testing to determine UC [unemployment compensation] eligibility," the CRS said in its report.

"Under this interpretation, federal law requires entitlement compensation to be determined from facts or causes related to the individuals state of unemployment," CRS reports. "Thus, the DOL requires that states pay compensation for unemployment to all eligible beneficiaries regardless of their income level because individual or household income would not be considered to impact the fact or cause of unemployment."

This figure does not take into account that there were also 8,335 people with incomes between $500,000 and $1 million who received benefits and 120,227 with incomes between $200,000 and $500,000 who received benefits.

House Minority Leader Steny Hoyer declared last month that unemployment benefits along with food stamps were the two most stimulating things the government could do for the economy.

"If you talk to economists, they will tell you there are two things that are the most simulative that you can do--one's unemployment insurance, the other's food stamps, okay?" Hoyer asked.

"Why is that?" Hoyer said. "Because those folks who receive those resources must spend them. And they'll spend them almost upon receipt. Most economists with whom I talk believe that those with significant discretionary income, that that's not the case."

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bionic
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November 12, 2012 - 3:06 am
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I was recntly having coffe ina well known rich area around these parts and overheard some guy discussing how he had to file for banktrupcy

Willie Wonka quotes..
What is this Wonka, some kind of funhouse?
Why? Are you having fun?
A little nonsense now and then is relished by the wisest men.
We are the music makers, we are the dreamers of dreams

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greeney2
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November 12, 2012 - 7:10 pm
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This does not surprise me at all. It is very common for people in high incomes like actors, to get a short term acting job, and when it ends, they are unemployed again searching for another gig. 2 times I was unemployed in the 70's, you had to report each week to collect. My appointment time once I stood in line with Noah Berry Jr. who was a very famous character actor, and another time with the man who played Dennis the Menaces Father in the 70's series. The scale of what you are paid is based on what you earn, up to a maximum amount.

When people get old enough to collect social security(not unemployment) they can do that even if they still are actively working.

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rath
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November 20, 2012 - 9:02 am
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"greeney2" wrote: This does not surprise me at all. It is very common for people in high incomes like actors, to get a short term acting job, and when it ends, they are unemployed again searching for another gig. 2 times I was unemployed in the 70's, you had to report each week to collect. My appointment time once I stood in line with Noah Berry Jr. who was a very famous character actor, and another time with the man who played Dennis the Menaces Father in the 70's series. The scale of what you are paid is based on what you earn, up to a maximum amount.

When people get old enough to collect social security(not unemployment) they can do that even if they still are actively working.

Then it sounds like something the USA might wanna fix up.

Put and end to upper class welfare. ( tax refunds / tax rorts & rip offs )

If people like Donald trump & Bill gates can get welfare ...... Laugh Laugh Laugh

Well it's no wonder the richest Americans don't pay any tax, & the USA is bankrupt.

Also, ..... welfare should not be payed different to the poor as it is for the rich. Welfare should not be a percentage of your income meaning the more you once earned the more you get. that's obscene.

Welfare should be payed the same to all, One set amount of say $300 a week payed to every single person on the same payment type.

Not Donald Trump being payed $600 million a year in welfare, & a single black American mother getting $9000 a year.

Can you say racist, & Attrition.

how about Social engineering.

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boastonline
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November 21, 2012 - 3:19 pm
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Unfortunately, i see a lot of this "catering to the rich" mentality. Perhaps one of the biggest problems in our financial debate.

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greeney2
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November 22, 2012 - 4:56 am
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If Donald Trump gets a personal paycheck, he pays into social security, but at his income level, he would hit the maximum annual real fast. He would also not get more than the maximum allowed, when he is old enough to collect.

Social Security is not welfare by the way.

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chiselray
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November 23, 2012 - 1:57 pm
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still the USA is of the smallest contributors to celebratory statutory employee holiday entitlements...
actually the lowest end of of all contibutors...
well kf me that suxs.....at least a bloke down my way can call up a union if he has an itch on his ass and gets paid for it..seriously for a country or nation as a general rule which ever you are denoting, it is a travesty..

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rath
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December 12, 2012 - 1:07 pm
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"greeney2" wrote: If Donald Trump gets a personal paycheck, he pays into social security, but at his income level, he would hit the maximum annual real fast. He would also not get more than the maximum allowed, when he is old enough to collect.

Social Security is not welfare by the way.

Wow ........ how very socialist of you Greeney2.

However i beg to differ.

As your confusing social security ( payed to low income people & families ) With superannuation plans & retirement funds.

However ..... i agree with your point, the USA is a backwards & unfair society / country.

In the USA Social security might not be considered as wealfare as long as the rich sponge of government payments, & bleed the United states dry of all tax revenue. & any means to provide for itself into the future.

However in the modern world ( not the USA ) social security is something that is there to provide support for the poorest & most disadvantaged.

& there are many category's of it in Australia.

Unemployment payments.
Family payments.
Disability payments.
Single parent payments.
Old age pensions.

But like i said, these payments each have their own rules & guidelines to qualify to receive. such as an income threshold, meaning if you earn more then say $80.000 a year or if you have income in the bank, or in shares of a value over the limit you don't qualify for welfare payments.

That's social security & that is provided by the government of Australia.

Now if you have the money & assets, & you earn to much income to qualify for social security then that's fine ( that's what the private sectors there for )

& since Greeney2 you are always banging on about how the free market should set the rules & not governments ..... Well your gonna love this.

In Australia' Almost all Australians have a Private superannuation / retirement fund that is payed into over the course of your working life. & as such the more you pay into the superannuation fund, the more money you have in your retirement.

& thus, less of a need to claim welfare ( sorry social security as you call it ) from governments.

Also ......... ( as we have already talked about ( re: healthcare / medicare ) In Australia people are free to pay for private healthcare & go into private hospitals & choose their own Doctor ...... Rather than burden the public healthcare system & sponge of Australia's medicare system.

& since private insurance company's provide a very large range of policy's from private health insurance to car & home insurance.

If somebody is so rich & has so many assets that they feel the need to be a burden to the country & the government by claiming social security & Unemployment benefits ...... :boohoo: :boohoo: :boohoo:

Well maybe they need to fire their private tax accountant. & consider taking out income insurance next time.

Or are they just to cheap to pay the few dollars a month for income insurance to start with.

Bludgers ....... that's all they are.

It's nothing more than middle & upper class welfare.

Or maybe their just not as wealthy as their pretending to be ........ in which case, sell the big f*cking house, get ride of the Mexican maids, & live withing one's means.

(( you know ... so they can feed & cloth themselves, & their family' without needing to raping your family & killing you for tinned food & your good sneakers ))

Where as

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greeney2
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December 30, 2012 - 6:53 pm
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I have never seen someone so sure he knows about something than you Rath. You are wrong about the USA social security system. Explaining anything to you only generates trolling and nasty comebacks, so i will not waste the time.

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rath
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January 24, 2013 - 10:00 am
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"greeney2" wrote: I have never seen someone so sure he knows about something than you Rath. You are wrong about the USA social security system. Explaining anything to you only generates trolling and nasty comebacks, so i will not waste the time.

It's welfare greeney2 .... what ever way you wanna cut it.

& if the rich need income support ... maybe their just not that rich.

Maybe they claim to be rich coz they know the USA is an unfair & corrupt nation. & that they have worked out' America's dirty little secret ............. the rich pay less tax.

So ergo ... claim your rich ... get a few Mexicans to clean the house & yard ...... ( & pay zero tax ) :dance:

You know .... coz we rich. :shh:

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