“Among the many Americans who collected unemployment checks during the Great Recession were thousands of millionaires who legally received jobless compensation.
4 Responses to Unemployment Benefits Go to Millionaires Because of a Loophole in Current Law
It doesn’t matter how much you have.. if you are laid off or terminated, you get unemployment benefits like anybody else.
Your paychecks paid into the system, it seems very un-fair to deny somebody the opportunity based on what they have in their asset accounts.
This is the Socialist Security argument too.
If you want to call it “welfare” instead of unemployment, then you have to be honest about it.
If you means test, it’s welfare, and if you are going to capitate it, fine, just make sure you capitate the pay in as well.
It’s insurance and should be treated as such. Means testing UC insurance benefits would be as ridiculous as means testing auto, fire, or medical insurance. Should my auto policy not pay out if I can afford to “take the loss”?
What difference does it make what the annual income of the recipient was before they were terminated? The employer paid their premiums and their laid off employees should receive their benefits.
If this were an discussion about Flood Insurance you would get a different response out of me. It’s a Government Insurance program that PROMOTES risk taking at the expense of everyone who does not live in a flood plain. That’s a program that should be phased out by a simple change: No new policies are written, and if you accept a payout, you take your money and build somewhere else. The land should revert to a flood plain/barrier, If you build in a flood plain you take the risk.
Agreed. Either that or they should make sure the premiums are correctly calibrated to underwrite the risk.
Gotta think that’s not happening right now, however, or else the private sector would be in competition.
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