Steven Senne, AP
WASHINGTON — More than 2,300 millionaire households received unemployment benefits in 2009, according to the Congressional Research Service.
“Sending millionaires unemployment checks is a case study in out-of-control spending,” U.S. Senator Tom Coburn, an Oklahoma Republican, told Bloomberg. “Providing welfare to the wealthy undermines the program for those who need it most while burdening future generations with senseless debt.”
Millionaire households make up just 0.02 to 0.03 percent of all tax filers that reported receiving unemployment in 2009, according to the report.
The Joint Committee on Taxation and the Congressional Budget Office estimate that cutting unemployment benefits for millionaires would save the government $20 million in 10 years, according to the Congressional Research Service.
Legislation restricting all unemployment benefits for millionaires has passed both houses of Congress and await the President’s signature, according to Bloomberg. There are currently no salary limits on who can collect unemployment.
- Lehi-based Vivint debuts innovation facility
- Lower gas prices could mean economic impact...
- Q&A: Journalist Dan Rather speaks on courage...
- CVS tacks tobacco payment to prescription...
- Support for statewide nondiscrimination law...
- Government ups air bag warning to 7.8M vehicles
- Egg freezing is now a perk of the workplace....
- Dave Ramsey says: Keep expectations clear...
- Support for statewide nondiscrimination... 16
- Housing recovery slowest since World... 12
- Customer decline hits McDonald's sales,... 4
- Lower gas prices could mean economic... 3
- Egg freezing is now a perk of the... 3
- Another year, another small Social... 2
- Survey: Harassment a common part of... 2
- Federal Reserve Chair Janet Yellen says... 1