View Poll Results: Want Your Hard Earned Tax Dollars Propping Up a Bum Who Won't Pay His Mortgage?

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Thread: Should The Government Steal Your Money to Pay Someone Else's Mortgage?

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    Should The Government Steal Your Money to Pay Someone Else's Mortgage?

    SOWELL: Subsidizing bad decisions

    Now that the federal government has decided to bail out homeowners in trouble, with mortgage loans up to $729,000, that raises some questions that should be asked but seldom are asked.

    Since the average American never took out a mortgage loan as big as 700 grand - for the very good reason that he could not afford it - why should he be forced as a taxpayer to subsidize someone else who apparently couldn't afford it either, but who got in over his head anyway?

    Why should taxpayers who live in apartments, perhaps because they did not feel they could afford to buy a house, be forced to subsidize other people who could not afford to buy a house, but who went ahead and bought one anyway?

    We hear a lot of talk in some quarters about how any one of us could be in the same financial trouble that many homeowners are in if we lost our job or had some other misfortune. The pat phrase is that we are all just a few paydays away from being in the same predicament.

    Another way of saying the same thing is that some people live high enough on the hog that any of the common misfortunes of life can ruin them.

    Who hasn't been out of work at some time or other, or had an illness or accident that created unexpected expenses? The old and trite notion of "saving for a rainy day" is old and trite precisely because this has been a common experience for a very long time.

    What is new is the current notion of indulging people who refused to save for a rainy day or to live within their means. In politics, it is called "compassion" - which comes in both the standard liberal version and "compassionate conservatism."

    The one person toward whom there is no compassion is the taxpayer.

    ...
    In his usual direct style, Sowell hammers it home.

    Should taxpayer dollars be used to prevent mortgage foreclosures?

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    Re: Should The Government Steal Your Money to Pay Someone Else's Mortgage?

    Our tax dollars shouldn't be used to bail anyone out. We didn't force the banks to make those risky loans,they could have said no. We didn't force people to make risky business decisions. Nor did we force people to buy homes they couldn't afford,they can live in a rental they can live where the cost of living is cheaper so that the homes will be cheaper, you can buy homes in my city for under $20,000.
    "A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly. But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself. For the traitor appears not a traitor; he speaks in accents familiar to his victims, and he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murder is less to fear"

    Cicero Marcus Tullius

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    Re: Should The Government Steal Your Money to Pay Someone Else's Mortgage?

    Since the average American never took out a mortgage loan as big as 700 grand - for the very good reason that he could not afford it - why should he be forced as a taxpayer to subsidize someone else who apparently couldn't afford it either, but who got in over his head anyway?
    The "average American" doesn't pay **** in taxes anyways, so why should the "average American" care?
    People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf.

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    Re: Should The Government Steal Your Money to Pay Someone Else's Mortgage?

    Quote Originally Posted by RightinNYC View Post
    The "average American" doesn't pay **** in taxes anyways, so why should the "average American" care?
    It diverts funds from actual important things like roads, etc.

    This the reverse of positive behaviorist therapy and it is very bad to encourage stupid.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
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    Re: Should The Government Steal Your Money to Pay Someone Else's Mortgage?

    This is really no different then the current medicare/medicaid.

    Did you know at least 15% of your private premiums for your private plans are being taken by the government to fund both of those programs?

    Welcome to America. It's been like this for years
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Should The Government Steal Your Money to Pay Someone Else's Mortgage?

    Quote Originally Posted by obvious Child View Post
    This is really no different then the current medicare/medicaid.

    Did you know at least 15% of your private premiums for your private plans are being taken by the government to fund both of those programs?

    Welcome to America. It's been like this for years
    Not that I don't believe you.

    Do you have a link for this?
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
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    Re: Should The Government Steal Your Money to Pay Someone Else's Mortgage?

    Quote Originally Posted by Harry Guerrilla View Post
    Not that I don't believe you.

    Do you have a link for this?
    Nothing that's public (and there's a reason for this). I do however know people that work in the private healthcare insurance industry. The stuff that they are willing to say is pretty frightening. One of my long time friends works in a firm that regulates them. The stuff he told me a few months back made my hair stand up. I further got no reason to think he's lying to me. He might be breaking his NDA though.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Should The Government Steal Your Money to Pay Someone Else's Mortgage?

    Quote Originally Posted by obvious Child View Post
    Nothing that's public (and there's a reason for this). I do however know people that work in the private healthcare insurance industry. The stuff that they are willing to say is pretty frightening. One of my long time friends works in a firm that regulates them. The stuff he told me a few months back made my hair stand up. I further got no reason to think he's lying to me. He might be breaking his NDA though.
    Even it involves public tax dollars it shouldn't be a private issue.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
    —Adam Shepard

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    Re: Should The Government Steal Your Money to Pay Someone Else's Mortgage?

    Quote Originally Posted by Harry Guerrilla View Post
    Even it involves public tax dollars it shouldn't be a private issue.
    You'd think that's how it's suppose to be. But M&M are so underfunded that the gov't has done some downright questionable things to keep them alive. It might actually be IOUs to the insurance industry rather then outright theft, but given how shaky the Gov't balance sheet is, it's not much of a difference.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Should The Government Steal Your Money to Pay Someone Else's Mortgage?

    Quote Originally Posted by obvious Child View Post
    You'd think that's how it's suppose to be. But M&M are so underfunded that the gov't has done some downright questionable things to keep them alive. It might actually be IOUs to the insurance industry rather then outright theft, but given how shaky the Gov't balance sheet is, it's not much of a difference.
    I found something that may be close to what your talking about.

    California Chronicle | Private Payers Subsidize Public Programs; Only Slight Effect from Uninsured
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
    —Adam Shepard

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