2,840 Millionaires collected unemployment benefits in 2008
October 7th, 2010 - 8:47 pm ICT by Aishwarya Bhatt
According to reports by Bloomberg, some 2,840 millionaires in the United States applied for unemployment benefits in 2008. Ironically, all those households reported incomes of at least a million dollars. Bloomberg quoted IRS figures in the report.
According to the report, these millionaires collected some $18.6 million in unemployment benefits. That figure represents some $6,550 for each millionaire that applied for jobless benefit.
What makes this report interesting is the fact that about seventeen of those that applied for those benefits had incomes that exceeded $10 million. In fact the figures revealed that more than 800 of the millionaires (802 of them) reported incomes that exceeded $1 million.
These figures were part of the number of Americans that queued up for unemployment benefits in the United States in 2008. Some 9.5 million American taxpayers received a total of $43.7million in unemployment benefits.
Tax experts say the claim by the millionaires were not illegal. However some argue that the millionaires cannot justify what they did. They infer the millionaires are greedy for exploiting the system to make money even when the economy is in bad state.
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Tags: 1 million, 10 million, 5 million, 6 million, american taxpayers, benefit, economy, households, incomes, irs, million dollars, millionaire, millionaires in the united states, money, queued up, tax experts, unemployment benefits