One reason why Hurricanes like Harvey and Irma cause so much damage is that people keep building and rebuilding in areas where floods are likely. They keep doing it, Matt Welch noted this week in the Los Angeles Times, because they are often being subsidized by the federal National Flood Insurance Program.
"There's no compelling reason for South Dakota to bail out South Beach," Welch wrote, reasonably enough. It's not just because the program is an expensive money-loser for taxpayers. It's also because the government's treatment of insurance is actually inducing people to put more property and more lives at risk each time there's a major storm.
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7 comments:
ALL these issues in the world are due to the fact Democrats have destroyed God's way and the end is near.
What does it have to do with politics??? Can you at least go without mentioning it in a conversation?? Like come on, lay off the TV, computer.
Wow 649...simply WOW!
Flood insurance has everything to do with politics. Federal government controls the program. It is either mandatory or not available. The rezoning of the flood events took place several years ago and there has been in depth discussion over its design. Why would this not be political? It is designed and operated by the federal government.
Everything day I hear of a new Gov program where my money is spent. No wonder taxes are so high. In this instance the people who have expensive property near water can afford higher premiums.
Not being allowed to build in a area just because there might be a flood in 50, 100, or 500 years would be stupid. That's WHY there is flood insurance. The cost of flood insurance is based on the statistical likelihood that a flood will occur in any given year.
The one I like is now is wind insurance what's next snow insurance.
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