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4 Bumps

Millionaires on unemployment?

Link to full article: http://www.dailyfinance.com/story/investing/millionaires-on-unemployment-there-has-to-be-a-better-system/19657740/?txtlnkusquot00000001=

 
tasches

Asked by tasches at 5:28 PM on Oct. 6, 2010 in Politics & Current Events

Level 48 (298,202 Credits)
This question is closed.
Answers (17)
  • Employers pay unemployment insurance for the benefit of ALL their employees. Many of today's "millionaire's" are good savers that have worked hard for what they have. Why should they be penalized for doing the right thing?

    I am not a fan of the prolonged unemployment benefits though, they are a HUGE HUGE drain. I would prefer short term unemployment insurance and a reduced corresponding tax rate for the employer. I currently pay 3.4% of my total wages just for unemployment. I have NEVER had a single claim. The 2 new businesses I just bought have NEVER had a claim...one fo the businesses is 54 yrs old!

    yourspecialkid

    Answer by yourspecialkid at 7:45 PM on Oct. 6, 2010

  • I disagree. If you've paid into the system, you're entitled to draw from it.
    Anonymous

    Answer by Anonymous at 5:32 PM on Oct. 6, 2010

  • I haven't looked at yet, but IMO if you are in "millionaire" status, you should not ever qualify for unemployment. That is just bad money managment.
    JuLiAnSmOmMy317

    Answer by JuLiAnSmOmMy317 at 5:30 PM on Oct. 6, 2010

  • No way, all that money, someone should be expected to put some in savings or something!! Even if you made 1 mill. a year, that is PLENTY to live off of without taking from someone whom without unemployment might not be able to feed their kids.
    JuLiAnSmOmMy317

    Answer by JuLiAnSmOmMy317 at 5:36 PM on Oct. 6, 2010

  • Well, they did pay the same percent of taxes as everyone else, so really it's only fair that they are able to draw from what they've given when they "need" it. Yeah, it does suck that they make more money than us but when it comes down to it, I think it's mainly a jealousy issue (hell I know I'm jealous, lol). I don't see how them drawing unemployment would effect anyone but the government, it's not really taking money out of our pockets or anything...it's just sickening that our country is going further and further into the grave from debt.
    Evansmommy91

    Answer by Evansmommy91 at 5:55 PM on Oct. 6, 2010

  • If you've paid into the system, you're entitled to draw from it.
    ____________________________________
    Only employers pay into unemployment. Workers do not.
    stacymomof2

    Answer by stacymomof2 at 7:40 PM on Oct. 6, 2010

  • so really it's only fair that they are able to draw from what they've given when they "need" it.
    _______________________________________
    Once again, Unemployment is paid into by employers only. If it runs out, it is subsidiezed by the government, which is basically government public assistance. Also known as welfare.
    stacymomof2

    Answer by stacymomof2 at 7:43 PM on Oct. 6, 2010

  • Why should they be penalized for doing the right thing?

    ___________________
    There is a difference between "penalized" and "don't qualify." Do I say that I am "penalized" for not qualifying for food stamps? Nope, don't qualify. Why are you so interested in giving some people the benefit of the doubt and some people you just assume are looser trash? Are you really that much of an elitist?
    stacymomof2

    Answer by stacymomof2 at 8:21 PM on Oct. 6, 2010

  • How can someone cry they want the system to work for THEM, but then when the system applies to other people~ they cry because it's unfair. It does sound like jealousy issues... If their employer paid into the system~ then they ARE entitled... Sorry people, there isn't 'selective' unemployment entitlement. LOL... And yourspecialkid, you are exactly right with your statement~"I am not a fan of the prolonged unemployment benefits though, they are a HUGE HUGE drain." ..... Huge drain.
    grlygrlz2

    Answer by grlygrlz2 at 8:23 PM on Oct. 6, 2010

  • Sadly it's true. I've personally known a couple who brought in more than 200k a year flipping property or such but they still collected unemployment, not sure how but they found a loop hole and thanks to this loop hole they technically don't have a job so are able to collect un-employment while bringing in this steady high income. It's disgusting.
    Gnomeofmyheart

    Answer by Gnomeofmyheart at 5:34 PM on Oct. 6, 2010

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