A couple of people have asked if unemployment benefits are taxable. Yes, if you live in the U.S. I don't know about other countries. Cruel and unusual as that might seem, your income from UI is subject to taxes.

Are taxes taken out of your unemployment insurance payments?

That depends. Usually, when you first file your claim you are given the option of having taxes taken out. I recommend that you do that, but I'm no tax advisor and nothing I (or anybody else) say(s) on any subject should be taken as the gospel truth at any rate. The last thing you need in April is a big tax bill.

That's all I really have to say about that subject. If anyone wants to expand or expound, please feel free to comment. Personally, I feel that this is a key issue of social justice. The very richest Americans -- those with thousands of millions (billions) of dollars pay an effective tax rate of 17 percent on most of their income. They should be the ones asked to sacrifice, not the unemployed, especially since it's their fault that we're in this mess. As Colin Powell once said, "You break it, you own it." That's my opinion on that.

What's yours?