2,362 Millionaires Received Unemployment
August 15, 2012 by Bryan Nash
A report released by the Congressional Research Service reveals that 2,362 millionaires received unemployment benefits in 2009. In total, the unemployed millionaires collected more than $20 million in benefits. The report came out Aug. 2 and is based on data made available by the Internal Revenue Service.
According to the report, 2,840 millionaires received unemployment benefits in 2008. That number decreased to 2,632 in 2009. Although the number of millionaires receiving benefits decreased in 2009, the overall amount they received increased. In 2008, the government spent $18.6 million taking care of millionaires. In 2009, the amount rose to $20.8 million.
On average, millionaires received $8,806 in unemployment benefits in 2009.
The report also uncovered that 120,227 people who made between $200,000 and $500,000 received unemployment benefits.
The Congressional Research Service observes, “the DOL [Department of Labor] requires that states pay compensation for unemployment to all eligible beneficiaries regardless of their income level because individual or household income would not be considered to impact the fact or cause of unemployment.”