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The Wages Of Unemployment Fraud: $3.3 Billion Bogus claims are costing the government dearly. In 2011, the biggest c

#1 User is offline   azjetfan Icon

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Posted 30 April 2013 - 02:04 PM

http://money.msn.com...82-bc403779bda7

Quote

The wages of fraud have been calculated, and the figure is a whopper: The government overpaid $3.3 billion in unemployment insurance benefits in 2011 because of bogus claims.





Most of that fraud -- $2.2 billion of it -- was linked to people who concealed that they continued to work, according to the Federal Reserve Bank of St. Louis.




The findings raise questions about the program's efficacy, at a time when many workers continue to struggle in a still-recovering job market. Although the fraud represents a small percentage of the total $108 billion in unemployment benefits paid out in 2011, it nevertheless undermines the program's goals and perhaps takes away from those who are qualified for the payments.




About $500 million of fraudulently claimed money went to workers earning at least $900 per week, or $46,800 per year, the St. Louis Fed noted. Fraudulent claims for those earning less than $300 per week cost the program a far smaller amount, about $210 million.




The reason for the disparity is simply that high earners receive bigger unemployment checks, because workers receive benefits that represent a portion of their earnings, the study said.




Despite that, more low-earners committed fraud, according to the bank. Almost half of the concealed-earnings fraud (unemployment claims from people still receiving wages) was committed among people earning $300 to $600 per week. That's annual income of $15,600 to $31,200.




With the recession and a tough job market, unemployment fraud has come under scrutiny, although the St. Louis Fed didn't note whether the cheating is on the rise or has diminished. But The Wall Street Journal notes that the cost of the fraud likely declined in 2012, given that total spending on jobless benefits fell to $84 billion last year.




Several high-profile cases of alleged fraud have recently come to light. In January, federal prosecutors alleged a fictitious employer scheme defrauded the government of $5 million, with fake employers laying off fictitious employees, who then filed for benefits.




And the Illinois Department of Employment Security last Monday said it was cracking down on unemployment fraud. It alleges that five Chicago-area residents claimed unemployment benefits, even though they were still working, costing the program $159,000.




The program has also come under fire for providing benefits to millionaires, with the government spending $29.9 million in jobless payments to million-dollar earners in 2010, as I wrote earlier this month for MSN moneyNOW. That represented a 44% jump from the previous year. With Wall Street companies such as JPMorgan Chase (JPM +0.02%) cutting thousands of jobs during the past few years, it raises the possibility that some of those million-dollar earners are bankers or brokers.




While several bills have been introduced that would limit jobless benefits for workers with high incomes, the proposals haven't gone anywhere.


Follow Aimee Picchi on Twitter at @aimeepicchi.

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#2 User is offline   Mr_Jet Icon

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Posted 30 April 2013 - 04:13 PM

I'm outraged!!! Those f***ing 3% of lazy bums need to be shot in the hea........have their benefits cut off.

View PostMr_Jet, on 10 September 2011 - 06:49 PM, said:

actually most of the people who commit welfare fraud are guess what...employed. People who are working full time or working two jobs and don't report it to DHS are the ones that are committing most of the fraud, and hell welfare cheats are still a small percentage of the overall total of people on gov't assistance. I see people with jobs cheat the system a lot more than I see unemployed people cheating the system.



:saythat:
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View PostFlyHiJets, on 01 June 2013 - 08:35 PM, said:

You're the scumbag that thinks everyone should kiss the as$es of a bunch of criminals but I'm a dumbass. Yeah okay douchebag. Go give some illegal wetback or Revis another blowjob. But then again.....don't you live in an entirely different country but yet think you can tell us how to live? Go fvck yourself little boy. You're likely still living with mommy & daddy. Pu$$y.


View Postazjetfan, on 02 July 2014 - 03:36 PM, said:

There are a few things I have realized about Mr. Jet over a few topics.

1) He is a racist. By constantly using race as a battling tool.
2) He is an extreme Liberal. If you are on either extreme you are probabaly more wrong than right.
3) He is one of those people who will never admit fault, error or defeat.
4)His life sucks and he takes it out on people who don't share in his views.
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#3 User is offline   azjetfan Icon

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Posted 30 April 2013 - 07:50 PM

View PostMr_Jet, on 30 April 2013 - 04:13 PM, said:

I'm outraged!!! Those f***ing 3% of lazy bums need to be shot in the hea........have their benefits cut off.




:saythat:/>

And by benefit you mean........
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#4 User is offline   Mr_Jet Icon

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Posted 30 April 2013 - 08:25 PM

View Postazjetfan, on 30 April 2013 - 08:50 PM, said:

And by benefit you mean........



The unemployment insurance/government assistance that is benefiting them. Or at least did in 2011.
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View PostFlyHiJets, on 01 June 2013 - 08:35 PM, said:

You're the scumbag that thinks everyone should kiss the as$es of a bunch of criminals but I'm a dumbass. Yeah okay douchebag. Go give some illegal wetback or Revis another blowjob. But then again.....don't you live in an entirely different country but yet think you can tell us how to live? Go fvck yourself little boy. You're likely still living with mommy & daddy. Pu$$y.


View Postazjetfan, on 02 July 2014 - 03:36 PM, said:

There are a few things I have realized about Mr. Jet over a few topics.

1) He is a racist. By constantly using race as a battling tool.
2) He is an extreme Liberal. If you are on either extreme you are probabaly more wrong than right.
3) He is one of those people who will never admit fault, error or defeat.
4)His life sucks and he takes it out on people who don't share in his views.
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#5 User is offline   azjetfan Icon

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Posted 30 April 2013 - 09:14 PM

View Postazjetfan, on 30 April 2013 - 07:50 PM, said:

And by benefit you mean........

I was referring to body part removal. Bad attempt at a joke. I will try harder
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#6 User is offline   Mr_Jet Icon

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Posted 30 April 2013 - 11:29 PM

View Postazjetfan, on 30 April 2013 - 10:14 PM, said:

I was referring to body part removal. Bad attempt at a joke. I will try harder



Oh I get it now. But I fear that might give people like Michele Bachmann and Louie Gohmert ideas. I could see them going around with a machete trying to cut off the "benefits" of people on public assistance.
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View PostFlyHiJets, on 01 June 2013 - 08:35 PM, said:

You're the scumbag that thinks everyone should kiss the as$es of a bunch of criminals but I'm a dumbass. Yeah okay douchebag. Go give some illegal wetback or Revis another blowjob. But then again.....don't you live in an entirely different country but yet think you can tell us how to live? Go fvck yourself little boy. You're likely still living with mommy & daddy. Pu$$y.


View Postazjetfan, on 02 July 2014 - 03:36 PM, said:

There are a few things I have realized about Mr. Jet over a few topics.

1) He is a racist. By constantly using race as a battling tool.
2) He is an extreme Liberal. If you are on either extreme you are probabaly more wrong than right.
3) He is one of those people who will never admit fault, error or defeat.
4)His life sucks and he takes it out on people who don't share in his views.
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#7 User is offline   azjetfan Icon

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Posted 01 May 2013 - 02:13 PM

View PostMr_Jet, on 30 April 2013 - 11:29 PM, said:

Oh I get it now. But I fear that might give people like Michele Bachmann and Louie Gohmert ideas. I could see them going around with a machete trying to cut off the "benefits" of people on public assistance.

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#8 User is offline   santana Icon

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Posted 01 May 2013 - 02:55 PM

3.3 billion? thats it?
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#9 User is offline   azjetfan Icon

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Posted 01 May 2013 - 03:21 PM

View Postsantana, on 01 May 2013 - 02:55 PM, said:

3.3 billion? thats it?

Its only $10 a person. Roughly
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