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.
- Looming chocolate drought may leave some...
- Utah business leaders say Congress must solve...
- A GDP showdown: How do state GDP numbers line...
- Santa Claus is coming to City Creek
- Minivans do poorly in new crash tests
- Robots will replace 50% of today's...
- What's next for dead malls?
- Former coal plant site in Wellington closer...
- Utah business leaders say Congress must... 38
- Japan slides into recession as tax hike... 14
- Robots will replace 50% of today's... 13
- Imbibing in Utah grows with population,... 7
- 'Red warning lights' flashing for... 5
- Millennials are quitting their jobs and... 5
- What's next for dead malls? 5
- Looming chocolate drought may leave... 4