Goverment Sending Unemployment Benefits to Millionaires

Goverment Sending Unemployment Benefits to Millionaires

A government report released August 2nd says that thousands of people earning a million dollars in income have also received unemployment benefits within the same year.

CNSNews revealed the Congressional Research Services report which was based on IRS data. A summary page in the report states “a small percentage (approximately 0.02%) of tax filers receiving unemployment benefit income had AGI of $1 million or more in tax year 2009 based on Internal Revenue Service (IRS) data.” A chart translates that percentage into 2,362 individuals.

Even more striking is the total of money paid out to millionaires: $20.8 million in 2009 alone. For those making between half a million and one million, UI paid out an additional $74.9 million in 2009.

One hundred million dollars may not seem like a lot in the scheme of things, but like so many other government programs, it seems wasteful when we are borrowing forty cents of every dollar we spend.