More than 2,300 millionaire households received unemployment benefits in 2009.
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.
EMAIL: sparker@desnews.com
TWITTER: @SeanRParker
DeseretNews.com encourages a civil dialogue among its readers. We welcome your thoughtful comments.
— About comments
- S.L. draws up airport plans
- Couples registry gets preliminary nod from...
- Should we let wunderkinds drop out of high...
- 'Mantiques' could be a ticket to more cash
- XanGo seeks ouster of co-founder in new lawsuit
- Taking back family dinner: A healthy,...
- IRS official to take the 5th at hearing
- AIG CEO tells college graduates facing...
Subscribe
Mobile
RSS
- S.L. draws up airport plans
30 - Writers offer personal finance advice... 30
- Couples registry gets preliminary nod... 17
- Should we let wunderkinds drop out of... 11
- Obama opposes GOP bill on Keystone XL... 10
- Obama: 'Our focus cannot drift' from... 9
- Apple's Cook to face Senate questions... 6
- Airport TRAX ridership remains strong... 6
Chris B,
A government handout is a government handout, why do we try and justify millionaires taking government handouts? Why do we try to justify millionaires not paying taxes? My dad taught me an old saying that maybe you and the More..
While obviously it would be nice if they didnt do this - the millionaries are the ones funding the plan to begin with. It is their money so I"m fine that they want to get their money back.
Why don't we all just pay for what we More..
When the 1% owns 80% of everything,
The 1% SHOULD be paying 80% of taxes on everything.
What part of simple maths gets lost in this?
===========
BTW - for SHAME on the wealthy Millionaires getting free More..