A million dollars isn’t all that much but still, they shouldn’t be getting unemployment.
Remember after Katrina, the department of labor said that anyone in New Orleans who was old enough to work could apply for unemployment even if they couldn’t prove that they had ever worked.
I wonder if NFL coaches and players file for unemployment when they get fired.
If uninsurance worked the way it’s supposed to — as insurance — then there would be no problem with this. Doesn’t matter what you make, if you pay into the system and lose your job, you get the benefits (e.g., insurance payout).
But, with all of the extensions/etc, uninsurance has become little more than another form of welfare, so there should be some level of means-testing (certainly enough to weed out high earners like this).
This points out that unemployment is an insurance program, not a social welfare program. If you pay in, you get money out. Just like Social Security. Whether it should be that way or not is another question. Perhaps all these programs should be means tested. But as everyone points out, that can cause issues too. Why should you not get money out of the program you paid into just because you are frugal and don’t waste your money?
If they means test this, they will means test social security and medi-care.
When you don’t means test, of course this happens; especially in the era of Obama. So this article is a thinly veiled promotion for means testing.
Were any of them non-Union?
“”Just one of the many problems with our gov’t handing out money to everyone who asks. “””
Employers, like me, are forced to pay into the fund. We must pay a percentage of wages paid out. If a guy made a million bucks or a hundred bucks, I still have to pay in on them.
They are entitled to the insurance money no matter how much they earned. I don’t see a problem with a millionaire collecting since I had to foot the bill anyway.
The Congressional Research Service report—Receipt of Unemployment Insurance by Higher-Income Unemployed Workers (“Millionaires”)—was published on Aug. 2 and was based on the most recent data available from the Internal Revenue Service.
Things about these (evil) millionaires:
- They have paid a disproportionately high share of income taxes for many years
- They paid more in taxes than most people make, even if you count the unemployment benefits received as a tax credit
- They met all the qualifications to receive these benefits
Presumably these folks are smarter than average - Would you expect them to just donate these funds back to the treasury? Really?
And the point is...?
They paid into the system - or more accurately their employers paid into the system by virtue of the work that these people had been doing - so they should be entitled to the benefit.
That’s how it was designed by our government so it must be the way it was intended.
Also, they paid a lot of money into the general treasury based on their $ million incomes. We should be thankful for that.
Too bad they lost their jobs and that tax revenue went to zero, but that’s how it goes in a tough economy. With higher unemployment you get lower tax revenue. Maybe our current government can do something to encourage more high paying jobs so we can get that revenue back up?
If they paid it in, they have a right to get some back. Period! Provided they meet the qualifications.
You SHOULD get unemployment insurance, regardless how “rich” you are. The qualification is you lose your job, not if you are poor. Poor people who never worked a day in their life should not get insurance... but rich people who have paid handsomely into the system should definitely get it back... they put money into it when they could.
This is similar to the social security. If you have made good decisions in your lifetime (and come out ahead with millions in the bank), why shouldn’t you get the money back that you have put in? Why should poor fools who made bad (economic) decisions all their lives get a free handout? If anything, cut social security from the poor fools and give to the rich... at least the rich will invest back, rather the poor will waste in lottery/gambling/drugs/cigs/combination.
This is an anti-rich story to make you feel rage towards those who have become rich.
Unemployment is money that is paid to both the state & the Feds by the EMPLOYER.
That money is paid regardless of the total gross earnings on each employee up to a threshhold.
When a company lays off people, it is the business of the company.
It isn’t the fault of the employee that they get laid off due to cutbacks.
They are entitled to their unemployment, just the same as the lowest paid janitor.
This is another chop at people who have worked hard and suceeded.
It is not true that, if you paid in, you get paid unemployment benefits: my husband is self-employed and must pay a sizable chunk into unemployment regularly. Because he is self-employed, he is barred from ever collecting any benefits.
Small farmers can easily earn a million dollars or more in taxable income (gross), when their crops are sold. Then they have to turn around and pay most of that right back out to repay loans for farm equipment, seed, fertilizer and pesticide, as well as taxes and rent.
Often with a more than million dollar gross, they will net under $40,000.
While farmers are a good way to illustrate this, how about doctors, who might earn a million dollars gross, but have to pay half of that in malpractice insurance, and a big chunk in employee wages, and oh yes, repay enormous student loans.
The same problem applies to a lot of small businessmen who are reliant on a big gross, because they have big expenses that must be met.
Employees who gross over a million may also have a relatively low net, again with big drains on their cash as soon as they earn it.
I'd bet your left nut.
I don’t see it as a problem at all. They paid in just like everyone else didn’t they? Probably paid in a hell of a lot more than the average person, I bet.
Unemployment is supposed to be “insurance”, not simply an entitlement program for the unemployed. So, I don’t care if you have 20 million in the bank, if you’ve paid your “insurance” premiums, you have every right to take your payout when you qualify.
But as another poster noted, big difference between 'millionaire' and some who might transact millions in business but be paid on a tight margin.
Although most farmers I know are self-employed and/or run income through Subchapter S (although you see more LLCs with farm-to-market locavore foodies), so they wouldn't draw UI anyway.
But say, a realtor would.
Any of ‘em Al Sharpton or Jesse Jackson?!!
I wonder how many were cases of ID theft?