tangent4ronpaul
03-25-2014, 04:17 AM
If you think this is about Obamacare, you would be wrong.
We are talking about small, locally owned mom and pop businesses.
We are talking about FLOOD insurance. I know, bitch, bitch, moan, moan, whine whine - typical RPF member response:
"Serves them right for building next to the ocean"
"gvmt subsidized insurance is immoral!"
etc.
Except that most of this is not beachfront property... there are 18,500 areas in the us that are MANDATED to have flood insurance. Most are inland. Whole communities along small rivers (generally 100% tourist industry) are being removed via financial extortion. Farms (er, excuse me "floodplanes') are being bankrupted. have a fishing business? Either pay what you can't afford or move and haul your boat 10 miles each morning. that kind of BS.
Well, people bitched so congress came up with a bandaid and Obama signed it Friday. what does it do? Well, the taxes still go up, people are still driven out of business it just happens over a period of years. Oh, and it's more than businesses. A lot of people are now in a position where they have no choice but to give the bank the title to their home and walk away. loosing everything they've put into it. 1.1 Million people are effected. So now, instead of all these bankruptcies and foreclosures happening at once, they will happen over time and be less noticeable.
That is soo much more politically palatable of a HOOVERING of the countries wealth from the public and into the pockets of bankers and insurance companies.
What triggered this is the expiration of flood insurance subsidies... so it's been going on all along. it just wasn't destroying peoples lives before.
look at the numbers: 37K(subsidy) * 1.1M(people) = huge Fn number... Yeah, that's what has been added to the debt each year and gifted to insurance companies. That's not the problem. The problem is that it's a mandate and that the gvmt decides if where you live needs it or not.
Flood savings accounts (think health savings accounts) are not allowed. people living in areas with a low flood probability can't opt out. Further, the smallest coverage offered is still a 1,000% cost increase, but now comes with HUGE deductibles.
This is a tax, just like obamacare and it should be a campaign issue.
There was a news program on about this earlier and I found the below article:
http://abcnews.go.com/US/wireStory/ap-impact-flood-insurance-hikes-peril-23030829
http://www.noaanews.noaa.gov/stories2008/images/floodmap2.jpg
-t
We are talking about small, locally owned mom and pop businesses.
We are talking about FLOOD insurance. I know, bitch, bitch, moan, moan, whine whine - typical RPF member response:
"Serves them right for building next to the ocean"
"gvmt subsidized insurance is immoral!"
etc.
Except that most of this is not beachfront property... there are 18,500 areas in the us that are MANDATED to have flood insurance. Most are inland. Whole communities along small rivers (generally 100% tourist industry) are being removed via financial extortion. Farms (er, excuse me "floodplanes') are being bankrupted. have a fishing business? Either pay what you can't afford or move and haul your boat 10 miles each morning. that kind of BS.
Well, people bitched so congress came up with a bandaid and Obama signed it Friday. what does it do? Well, the taxes still go up, people are still driven out of business it just happens over a period of years. Oh, and it's more than businesses. A lot of people are now in a position where they have no choice but to give the bank the title to their home and walk away. loosing everything they've put into it. 1.1 Million people are effected. So now, instead of all these bankruptcies and foreclosures happening at once, they will happen over time and be less noticeable.
That is soo much more politically palatable of a HOOVERING of the countries wealth from the public and into the pockets of bankers and insurance companies.
What triggered this is the expiration of flood insurance subsidies... so it's been going on all along. it just wasn't destroying peoples lives before.
look at the numbers: 37K(subsidy) * 1.1M(people) = huge Fn number... Yeah, that's what has been added to the debt each year and gifted to insurance companies. That's not the problem. The problem is that it's a mandate and that the gvmt decides if where you live needs it or not.
Flood savings accounts (think health savings accounts) are not allowed. people living in areas with a low flood probability can't opt out. Further, the smallest coverage offered is still a 1,000% cost increase, but now comes with HUGE deductibles.
This is a tax, just like obamacare and it should be a campaign issue.
There was a news program on about this earlier and I found the below article:
http://abcnews.go.com/US/wireStory/ap-impact-flood-insurance-hikes-peril-23030829
http://www.noaanews.noaa.gov/stories2008/images/floodmap2.jpg
-t