Follow the Money - Almost 3000 Millionaires are getting unemployment

[stevenleser]

Run time: 05:33 https://www.youtube.com/watch?v=NZl4Ru5Q4rU   Posted on YouTube: October 15, 2010 By YouTube Member: HyperPundit Views on YouTube: 8   Posted on DU: October 15, 2010 By DU Member: stevenleser Views on DU: 702

 
Nearly 3000 millionaires are currently receiving unemployment. Steve Leser and the Follow the Money team discusses whether this is fair and should continue.

[Crazy Dave]

1. Millionaires want and get social security too n/t

[MikeMc]

2. Fox will explain how rich repugs don't suck. NT

[LoZoccolo]

3. If you want people to have to defend unemployment benefits as vigilantly as they do welfare

then go ahead and make millionaires have to pay into it while getting nothing out.

Besides, I did the math before and it only works out to $1830.99 each per year. Even if they took the full 99 weeks it would be less than four thousand dollars.

http://demopedia.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=9261084&mesg_id=9266137

[JDPriestly]

4. How can anyone listen to these idiots?

Their mouths are not connected to their minds.

A person may have had a very high income and have been on unemployment for part of the year.

The law on unemployment benefits treats everyone the same. That is as it should be. The number of millionaires getting unemployment benefits -- 3000 (assuming that number is accurate) -- is not that large compared to the number of unemployed in the U.S. -- 14.8 million. 3000 is a tiny percentage of 14.8 million.

Here are the facts.

The number of unemployed persons, at 14.8 million, was essentially un-
changed in September, and the unemployment rate held at 9.6 percent. (See
table A-1.)

Among the major worker groups, the unemployment rate for adult men (9.8
percent), adult women (8.0 percent), teenagers (26.0 percent), whites
(8.7 percent), blacks (16.1 percent), and Hispanics (12.4 percent) showed
little or no change in September. The jobless rate for Asians was 6.4
percent, not seasonally adjusted. (See tables A-1, A-2, and A-3.)

The number of long-term unemployed (those jobless for 27 weeks and over),
at 6.1 million, was little changed over the month but was down by 640,000
since a series high of 6.8 million in May. In September, 41.7 percent
of unemployed persons had been jobless for 27 weeks or more. (See table
A-12.)

http://www.bls.gov/news.release/empsit.nr0.htm

[Uben]

6. No doubt, a lot of those millionaires are....

50 or 60 somethings who have saved their money for years for retirement and are getting canned years before they are ready to retire.
Rule of thumb these days is it takes 13 times your annual salary in saving to retire and keep the same standard of living, so a lot of these folks are just some of those who are nearing that benchmark, but still need to work a few years to attain it. Should they be drawing unemployment benefits? Hell yes! They are covered just like the rest of us. Should they draw social security? Hell yes, they paid in all their lives, why not.

[doc03]

5. I f your employer pays into unemployment

compensation you are entitled to it if you make a billion.

[sulphurdunn]

7. Correct.

[activa8tr]

8. Another Fox News incident of confusing the listeners, mixing apples and

oranges.

If one worked for their employer for even just one or two years, one would get unemployment when laid off, or when the company failed.

Employees collect unemployment benefits because THEY WORKED FOR A LIVING AND LOST THEIR JOB!!!

For sure, not all employees get these benefits after a job loss, depends upon the circumstances, the job, the conditions of termination of employment.

However, of the several million collecting now, it is reasonable to expect that a TINY FRACTION OF ONE ONE-THOUSANDTH OF ONE PERCENT OF THEM ARE ALREADY MILLIONAIRES!!!!!! A few tens of thousands of rich people did work for a living, lawyers, accountants, business executives, etc DO WORK FOR A LIVING, and have amassed millions in savings from a long career or inherited it. Some of them were laid off so they collect the benefits they deserve just like anyone else.

This is such obvious Fox News right wing Tea Party style baiting, divisiveness and hate-mongering.