2,840 Millionaires Claimed Jobless Benefits in 2008

Bloomberg, Some 3,000 Millionaires Claim Jobless Benefits, IRS Data Show, by Ryan J. Donmoyer:

After the economy slipped into recession in 2008, millions of Americans received unemployment benefits to make ends meet -- including almost 3,000 millionaires.

According to IRS data, 2,840 households reporting at least $1 million in income on their tax returns that year also collected a total of $18.6 million in jobless aid. They included 806 taxpayers with incomes over $2 million and 17 with incomes in excess of $10 million. In all, multimillionaires reported receiving $5.2 million in jobless benefits. ...

“Getting an insurance payment doesn’t depend on need but only on suffering an insured loss,” said Roberton Williams, a senior fellow and expert on tax policy at the Urban Institute, another Washington policy research organization. “We don’t say that your homeowners’ policy shouldn’t pay off if you’re a millionaire.” [Click on chart to enlarge.]