2,362 Millionaires Received Unemployment - Huh?

By
Real Estate Team Leader with Atlanta Communities Real Estate Brokerage

Nearly 2,400 people who received unemployment insurance in 2009 lived in households with annual incomes of $1 million or more, according to a new report issued by the Congressional Research Service. Now I don't care what your political views are, that's just insane.

The data was released after about 1.1 million people exhausted their jobless benefits during the second quarter of 2012, when more than 4.6 million filed initial unemployment claims, Bloomberg reports. Ditching payments to high earners is one idea being considered as U.S. lawmakers face a projected $1.1 trillion deficit for the fiscal year that ended Sept. 30, with the nationwide jobless rate at 8.1 percent, Bloomberg adds.

“Sending millionaires unemployment checks is a case study in out-of-control spending,” U.S. Senator Tom Coburn, an Oklahoma Republican, said in an e-mail. “Providing welfare to the wealthy undermines the program for those who need it most while burdening future generations with senseless debt.” The 2,362 people in millionaire homes represent 0.02 percent of the 11.3 million U.S. tax filers who reported unemploy- ment insurance income in 2009, according to the August report. Another 954,000 households earning more than $100,000 during the worst economic downturn since the Great Depression also reported receiving unemployment benefits.

And the blood of soliders continues to spill where don't need to be...not to mention the billions and billions of dollars wasted. How did we get to this place?

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Topic:
ActiveRain Community
Location:
Georgia Cobb County
Groups:
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Anonymous
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Rainmaker
507,739
Than Maynard
Broker - Licensed to List & Sell - 405-990-8862
Coldwell Banker Heart of Oklahoma

Yeah for our Oklahoma delegation.

And people wonder why I gripe about the welfare system!

October 03, 2012 07:00 AM
Rainmaker
305,235
Mike McCann - Broker Nebraska Farm Land
Broker Nebraska Farm Land For Sale 308-627-3700
Mike McCann - Broker, Kearney, Nebraska

In my opinion...there should be NO welfare checks.  If the person is laid off or has earned the right to receive compensation through previous work...the only way that should be paid is if they actually go do work for the money...ie:

EXAMPLE ONLY:

Currently: If I am laid off and am entitled to Unemployment...I fill the appropriate paperwork and get a check sent to me in a few days/week for a set amount of time that I am covered...and all I have to do is make it look like I am trying to find a job.

What it should be:  If I am laid off... I am entitled to go into the Federal Work Program (FWP) for up to X weeks/months at minimum wage plus $1 more per hour for 30 Hours per week of actual work and 10 Hours per week for job search. All hours will be documented by time cards, computer, etc.

I am treated at the FWP as an employee. The first week in the program I will be tested to see what my strong suit is for abilities and matched up as close to possible with available jobs within the FWP. My work may include clerical duties, cleaning duties, repair duties, nursing duties, etc based off of my previous job experience and FWP testing.

Those who do not have specific skills will be trained for up to 6 weeks in certain areas. I will then have up to 78 weeks of FWP employment before leaving the program and can leave at any time a fulltime job is secured.

They can only return to the FWP program 1 time in the next 5 years and only 3 times total in 10 years.

No exceptions and no other way to receive unemployment checks such as we see now.

We will have the cleanest streets, roadways, buildings, parks, etc in the world.

October 03, 2012 07:18 AM
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Rainmaker
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Hank Miller

Broker & Certified Appraiser
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Additional Information

The HMT blog is written by Hank Miller of The Hank Miller Team. He is a licensed broker and certified real estate appraiser in the state of GA. Since 1989, real estate has been his full time occupation and Hank consistently ranks at the very top of Atlanta area agents in overall production. He is known as much for his attention to detail as he is for his candor.