‘Hey, Buddy, Can You Spare a Million Dollars?’

According to the news service, those numbers are a minuscule fraction of the 9.5 million taxpayers who reported receiving $43.7 billion from jobless benefits in 2008, up from 7.6 million recipients reporting $29.4 billion in benefits in 2007. Still, economists said they are surprised so many people with seven-figure incomes claimed benefits.

The first 26 weeks of unemployment benefits are paid by states. Nationally, benefits average about $300 per week. Because unemployment benefits are insurance, funded with taxes paid by employers, the program isn’t need-based like welfare. As Bloomberg notes, a millionaire who loses his or her job is entitled to benefits the same as a laid-off factory or restaurant worker.