Um, how isn’t this a thing already? (Millionaire=people who earn $1M yearly)
Sorry for Fox News, but it’s the best source with this headline and it says it’s bipartisan so we should probably be good.

  • techwooded@lemmy.ca
    link
    fedilink
    English
    arrow-up
    56
    arrow-down
    3
    ·
    edit-2
    1 year ago

    Would just like to pop in here and say that terms like “millionaires” and “billionaires” typically refer to net worth/wealth, not income. This is why Jeff Bezos was able to claim some of the federal COVID aide because, despite being a multi-billionaire, his income in that year was below the threshold (I think it was sub-$100k) as income from investments didn’t qualify under the structure of the plan.

    While I don’t necessarily disagree with the sentiment of people whose net worths are upwards of a million being able to claim unemployment, actually calculating net worth is extremely difficult to do, especially among the wealthy. That would put an unreasonable burden on the unemployment benefit system that would probably end up costing more in administrative costs than the money saved by not including to the ultra-wealthy in the benefit. Preventing the latter is the main benefit of universal programs

    • ChickenLadyLovesLife@lemmy.world
      link
      fedilink
      English
      arrow-up
      11
      arrow-down
      1
      ·
      1 year ago

      actually calculating net worth is extremely difficult to do, especially among the wealthy.

      Even among the non-wealthy. For example, you might have some guy who has essentially no savings but who worked for an auto manufacturer and has a pension coming, compared to another guy who has a million dollars in his 401K but the annual income from that would be less than the first guy’s pension.

      • Flying Squid@lemmy.world
        link
        fedilink
        English
        arrow-up
        14
        ·
        1 year ago

        In the 90s, I didn’t qualify for food stamps. I had a minimum wage job, but the house I lived in had a washer and a dryer, which meant I was too rich for food stamps.

          • Th3D3k0y@lemmy.world
            link
            fedilink
            English
            arrow-up
            4
            ·
            1 year ago

            Not exactly related, I was a college kid looking to move out of my parents’ house back in 2007. I applied for Section 8 housing as my minimum wage job at the time technically met all the qualifications for it. I wasn’t allowed to receive it because I was in school at the time. You can’t be poor and go to college at the same time if you wanted a place to live, apparently.

      • JamesFire@lemmy.world
        link
        fedilink
        English
        arrow-up
        2
        ·
        1 year ago

        And then how do you enforce that without calculating net worth? Just let people self-report with no verification?

        • Katana314@lemmy.world
          link
          fedilink
          English
          arrow-up
          2
          arrow-down
          2
          ·
          1 year ago

          I don’t think it necessarily needs active enforcement. It can be as simple as:

          Richy Rich: “So I claimed unemployment during my taxes, and no one stopped me! Bwa ha ha!”
          Moralistic Auditor: “Wait…you did?? That’s illegal! Screw it, I always hated you, I’m going to report you to the IRS!”
          IRS: “We’ve discovered you incorrectly claimed unemployment, thanks to an anonymous tip and brief investigation. Your punitive taxes have been quintupled.”

          You wouldn’t always catch everyone; that’s fine, as long as the cost of abusers is not outweighed by the savings of not verifying everyone.

          • techwooded@lemmy.ca
            link
            fedilink
            English
            arrow-up
            2
            ·
            1 year ago

            Main problem with this is that unemployment isn’t handled by the IRS, it’s a program under the Department of Labor and administered by the States and federal agencies notoriously don’t talk to each other.

            There’s also nothing wrong with just giving them unemployment benefits, but you structure your tax system so that the rich people, when they end up needing to claim unemployment, are paying more or equivalent in taxes paying into unemployment than they’re getting in the payout. You simplify both sets of laws, the IRS is in charge of collecting revenue and the subdepartment of Labor tasked with this only has to worry about dishing out your cash so the administration of the benefit is simplified, and you still get your desired result of exceedingly well off people not “dragging” the system