Almost 3000 Millionaires Claim Unemployment

Washington : DC : USA | Oct 02, 2010 at 9:49 AM PDT

By Nathaniel Hines

XX XX

Views: Pending

According to data gathered by Bloomberg News Reporting agency, almost 3,000 millionaires collected unemployment benefits in 2008. With data supplied from the U.S. Internal Revenue Service, 2,840 households that reported at least $1 million in income on their tax returns collected some $18.6 million in jobless aid.

Eight hundred and six had incomes in excess of $2 million and 17 on the rolls made over $10 million.

Beside the millionaires, some 8,011 households reporting income between $500,000 and $1 million in 2008 claimed jobless benefits totaling $52.8 million, the IRS data showed.

1 of 2

Rough economy draws Millionaires to the jobless benefits aid

Nathaniel Hines is based in Florianópolis, Santa Catarina, Brazil, and is an Anchor for Allvoices.

Report Credibility

Credibility
Reach

More News From: Washington : DC : USA

Post a Comment Comments: 7

Posted By

RobertWeller991 | over 2 years ago

Outstanding. Now we can see why they should keep the tax break for the rich going. They aren't getting enough of the taxpayers' money.

Posted By

Nathaniel Hines | over 2 years ago

It was hard for me to believe. I sure would like to know who those folks are.

Posted By

Gino C. Matibag | over 2 years ago

That's how the policies were made.

Reply By

Nathaniel Hines | over 2 years ago

It may that those policies need to be tweaked. Seems cruddy to me.

Posted By

Artificer | over 2 years ago

If you are unemployed through no fault of your own, you can collect unemployment.

It may be right or it may not be, but calling these people "millionaires" is a bit of a misnomer - they made over one million dollars - this does not mean that they HAVE one million dollars. In 2008, many of them may have gone into debt trying to keep up their payments when the bottom dropped out of the economy.

This money is paid to people who became unemployed through no fault of their own, and whether you feel that they are less deserving, they are entitled to it.

Regardless of your own income, you would feel entitled to it too if you lost your job unexpectedly... and those who earn more have a lot more to lose if their job is lost unexpectedly.

I'm all for the rich paying more - when they can afford to pay more. I'm not a fan of punishing anybody in a terrible time that hit all of us equally.

Reply By

Nathaniel Hines | over 2 years ago

I sincerely appreciate the rationale, yet entitlement seems hollow in this case to me. At the rate described, I suspect those folks were able to retain some sort of lifestyle without digging into the public dole. Still, I agree they are entitled. Whether or not anyone decides to exercise all entitlements in this case is suspect.

News Stories

Millionaires claim jobless benefits

Chandler Republic

Internal Revenue Service data, 2,840 households reporting at least $1 million in income on their tax returns that year also collected a total of $18.6 million in jobless aid. They included 806 taxpayers with incomes over $2 million and 17 with...
Millionaires get jobless aid

The Journal Gazette

After the economy slipped into recession in 2008, millions of Americans received unemployment benefits to make ends meet including almost 3,000 millionaires...Internal Revenue Service data, 2,840 households reporting at least $1 million in income on...

Blogs

Nearly 3000 Millionaires Collected Unemployment In 2008, IRS Data ...

todaysjibe.com

After the economy slipped into recession in 2008, millions of Americans received unemployment benefits to make ends meet — including almost 3000 millionaires. According to U.S. Internal Revenue Service data, 2840 households reporting at least $1
Nearly 3000 Millionaires Collected Unemployment In 2008, IRS Data ...

hotpoliticians.com

After the economy slipped into recession in 2008, millions of Americans received unemployment benefits to make ends meet -- including almost 3000 millionaires.According to US Internal Revenue Service data, 2840 households reporting at le... ...
A Closer Look: Some 3000 Millionaires Claim Jobless Benefits, IRS ...

patriciashannon.blogspot.com

After the economy slipped into recession in 2008, millions of Americans received unemployment benefits to make ends meet -- including almost 3000 millionaires. According to U.S. Internal Revenue Service data, 2840 households reporting ...
Millionaires on Unemployment? There Must B the Better Way

finances.vsocorp.info

Data from the IRS shows Z 2840 households report`g @ least $1 million in income on their tax returns Z year also collected the total of $18.6 million in unemployment benefits in 2008. Continue read`g Millionaires on Unemployment? ...

Images

A Millionaire's View

A Millionaire's View

Image Source: allvoices

Rough economy draws Millionaires to the jobless benefits aid
Millionaire's House

Millionaire's House

Image Source: allvoices

Some Need to Buttress their Bottom Line by Collecting Unemployment