Millionaires raked in $80 million from jobless benefits.
Means testing, anyone?
And we're talking about households with adjusted annual gross income of more than $1 million, not net-asset millionaires. I put the over/under at 1,000 families. I wasn't even close. Yet Congress will do nothing to fix the problem because Democrats do not want to see unemployment insurance means tested. Pelosi warns of a means-testing slippery slope as we drift closer to fiscal oblivion.
Almost 3,200 households -- about 20 percent of them from New York -- that reported adjusted gross income of more than $1 million received jobless-insurance payments averaging $12,600 in 2010, the latest year for which figures are available, according to IRS data compiled by Bloomberg. Those payments outpaced the total incomes for about 25 million U.S. households.
The final sentence is without question the most shocking part of the story.
Get the details at Bloomberg...
