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.
- Insights from the Behavioral Science Guy:...
- David Muir takes over ABC's 'World News' from...
- About Utah: A Salt Lake hit for 152 years ......
- Dave Ramsey says: Pets and rental properties...
- No timeline announced yet for Cottonwood Mall...
- Kennecott hopes project will change mountain...
- Some fear auto industry returning to bad habits
- 6 financial moves to prevent sleepless nights
- 10 things to know about corporate... 32
- Kennecott hopes project will change... 7
- State lawmaker calling for criminal... 5
- Applications for US unemployment aid... 4
- Some fear auto industry returning to... 3
- Feds eye stricter rules for railroad... 2
- Obama promoting economic gains as... 2
- No timeline announced yet for... 2