Posted by John in La on September 30, 2013 at 17:58:19 from (96.33.136.54):
Lets see if we can talk about this without it going poof.
Call it what you want..... Subsidies; welfare; grants; kickbacks; under the table pay offs; cut rate insurance prices. But here is a GREAT example why subsidies are not good for anyone.
You are the average John and Jane Doe. You build or buy a nice house along a river or in a coastal state. Heck everyone like living next to the water. Your house note is $1000 a month; taxes and insurance is $200 a month and flood insurance is $100 a month. Not bad you can afford $1300 a month easy. The sad parts is (and you may not even know it) the government is subsidizing your flood insurance to make it affordable.
Fast forward to today. After making 20 years of payments on this house (only 10 more years to go) you find out the government is doing away with flood insurance subsidies. Your flood insurance rates will go up 500 to 1000 percent over the next few years to reflect the true cost of the insurance.
So what happens now..... Your mortgage just went from $1300 a month to $1800 or even $2300 a month. You can not afford this amount; and selling your dream house is impossible now because no one wants a $2000 a month note on a $1000 a month house. You have lost everything all because of a government subsidy.
And this is why government subsidies are not good for anyone. You base your business; home; farm; service on a set plan or budget. You have set parameters to follow because you know the income and out going cash flow. Then one day the government says.... oops... we are out of money so there goes your subsidy. Not after years of hard work you are left with nothing because you can not make your financial budget work with out a hand out.
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