Millionaires who collected unemployment insurance.........

[GeoFisher]

THIS is why this garbage is out of control. There should be "caps" for every benefit out there. THOSE caps should exclude people from collecting benefits.

If I was a millionaire, I should NOT be able to collect unemployment. I'd go as far to say I should NOT be able to collect social security......

http://www.foxnews.com/politics/2012...less-benefits/

Later,

Geo

[SLP]

Are you suggesting that employers would then no longer be required to pay into the system of those employees that are millionaires? Because that is the logical leap. Basically anyone over a certain financial net worth would be opted out of the system. The thing is with such a low percentage of them actually receiving benefits doing so actually could end up lowering the money in the system rather than raising it

Should we establish a level of certain net worth and above, and any employee over that amount would be opted out of the system? Also if I am reading that article correctly the amount of millionaires that collected was only .02% of the total. So that raises the question would there be a net gain or a net loss if all millionaires would be opted out of the system. Obviously it appears with such a low percentage that most millionaires do not seek benefits, and while I have no evidence to support this, I am assuming there would be a net loss if all millionaires were opted out of the system.


Another thought on the subject when looking more at the numbers.

In 2009, there were 2,362 people in so-called “millionaire” homes who reported unemployment insurance income. They represented 0.02 percent of the 11.3 million U.S. tax filers that year.

That is a very low amount, and how do we know some of those 2,362 couldn't use the money? In some parts of the country homes can easily go for $400,000-$500,000. So if an older couple have paid down their mortgage and also had a sizable 401k retirement fund built up they could easily be a millionaire on paper, but not have any more disposable cash then any other average American. Remember being a millionaire is their net worth and not in any way an indicator of income or cash on hand. What about a small family farmer, whose land and equipment is worth a million on paper, but struggles to make ends meet? Maybe his wife works in order for them to better get by. Should she not collect unemployment if fired?

I agree on the surface, and at first glance it sounds wrong. However I am not certain this is really all that out of whack, and I am betting the majority of millionaires don't ever even file even when they are legally able to. I am also betting that the majority of these 2.362 people could use the help that money brings, as it was intended.

[psprowler]

THIS is why this garbage is out of control. There should be "caps" for every benefit out there. THOSE caps should exclude people from collecting benefits.

If I was a millionaire, I should NOT be able to collect unemployment. I'd go as far to say I should NOT be able to collect social security......

http://www.foxnews.com/politics/2012...less-benefits/

Later,

Geo

I wouldn't do it personally, but those people paid in like the others right?

[GeoFisher]

I wouldn't do it personally, but those people paid in like the others right?

Yea they paid in........but with all the fraud and abuse, don't you think it could be better spent somewhere else.

If a millionaire really needs it then ok, but if not......then why collect it.

Both of my daughters as college students qualify for Food stamps.....I'm talking about 600/month total. Are they collecting it........HELL NO. Are we eligible, and would it sure make things easier.........YES.

My point. Just because you qualify or you "paid" doesn't mean you should partake in a give away.

Later,

Geo

[Chubminnow]

Yea they paid in........but with all the fraud and abuse, don't you think it could be better spent somewhere else.

If a millionaire really needs it then ok, but if not......then why collect it.

I agree...every man, woman and child in this country needs to learn to do more with less, millionaire's included.

[SLP]

I agree completely that most millionaires should personally choose not to apply for it, and I am inclined to believe that most don't.

That is entirely different than calling for the government to place a "cap" based on an individuals net worth. Also in almost all states the employer pays the majority is not all of the money paid into the system, not the employee.