Following the financial shock that hit in 2008, millions were laid off. While many blue collar jobs were lost, there were also many white collar highly paid positions terminated by companies. Whether through mergers or just to balance their budgets, companies got rid of many of their best-paid employees. Like their blue collar counterparts, what was their first decision? Head to the unemployment office and get a check from the government.
According to the IRS, more than 3000 households that reported over $1 million dollars received unemployment benefits from taxpayers. Of course, since these people paid into the system they are fully within their rights to file for and, should their job loss be claimed as a lay off, collect their benefits despite their current income.
However, this situation clearly shows how programs like unemployment and direct payment welfare (awhile back, MTV followed millionaire rap artist Old Dirty Bastard as he cashed his continued welfare check), can be easily used by those who have no need for them at all — at taxpayers’ expense.Published in