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Millionaires Get Unemployment Benefits, Too!

One hot topic on the campaign trail is unemployment. Some Democrats are trying to paint a rosy picture regarding unemployment figures, while some Republicans are looking for ammunition to use against public assistance.

But critics on both sides may have a mutual point of contention as it relates to unemployment benefits: Thousands of American millionaires are receiving unemployment benefits, reports The Huffington Post.

The numbers aren't really that staggering. Of the unemployment benefit income recipients in 2009, only 0.02 percent of them were millionaires, according to the Congressional Research Service.

That's not a whole lot. And it really doesn't affect the federal deficit that much, as critics may claim.

The numbers aren't necessarily indicative of millionaires abusing the system. In some cases, the spouses of millionaires were receiving the benefits, according to Bloomberg News. In other cases, the benefits were received earlier in the year, before the recipient landed his or her million-dollar gig.

Does the importance of providing assistance to the jobless outweigh the potential for abuse as it relates to unemployment benefits? That's a tough question and one that may come up as the presidential campaign enters its final stretch.

The issue of providing unemployment benefits to millionaires has been debated on the Senate floor. Last year, the Ending Unemployment Payments to Jobless Millionaires Act of 2011 was introduced, but it never got anywhere.

There are several arguments in favor of giving millionaires their unemployment benefits. One is the fact that they paid for the right to these benefits from their taxes, just like everyone else. Another argument is that the administrative costs of removing millionaires from receiving these benefits would actually not be worth the savings.

In any event, unemployment will continue to be a hot topic for the rest of this election season and beyond.

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