Monday, December 12, 2011

Good news! Taxpayers only foot 42% of bill for unemployment benefits!

I noticed this gem this morning in a CNN story titled Unemployment benefits extension: What's at stake: “Jobless Americans have collected $434 billion in unemployment benefits over the past four years. Taxpayers have footed about $185 billion of the bill.”  Obviously, I was curious about the source of the remaining $249 billion, being under the apparently na├»ve impression that nearly all government money comes from taxpayers.  I followed the helpful link to their December 5th story Cost of federal unemployment benefits so far: $434 billion.  In the second paragraph, the answer appears:  “State and federal taxes on employers cover the rest.”  Imagine my relief.  The working man finally gets a break since taxes on employers don't impact regular folk.  Besides, there would be no unemployed if those greedy businesses would just give everyone jobs.  Serves them right.

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