Quote:
Originally Posted by Botnst
If you don't subsidize the rebuilding then people have to pay their own way. That way the risks are their own. If we ceased federally subsidizing flood insurance then we could find out what the market cost of insurance on a building below sea level in a hurricane-prone area REALLY is. If a prospective homeowner can float the loan and get the insurance, let him build. If he risks his own money, let him build. If he spends his own money and builds it himself at his own risk, let him build.
Subsidizing rebuilding neighborhoods and subsidizing flood insurance simple ensures that taxpayers will pay for it all over again sometime in the future.
And this folks, is why we don't want government running the auto companies or medicine.
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lol. How many times has an auto company gotten money from the federal government? More than just the last time.
Federal money is already spent. The government will always step in to stave off wide spread disaster. Right now, we get nothing for it. If the auto companies lost some control, at least the government could have some measure of control over its (our) investment.
BTW, if the rebuilders got flood insurance, they'd be getting subsidized too, by all the people who got insurance from the same carrier. How many local Louisiana insurance companies are there?