Discussing Subsidized Homeowner Flood Insurance - Often a Subsidy for the Rich

Reason TV Editor in Chief Matt Welch appeared on Fox News Freedom Watch to discuss the how the government actually subsidized many risky homes primarily for the rich by giving cheaper flood insurance for beach, lake, and river homes and businesses. Aired on August 30, 2011. The video was provided by Reason TV via YouTube.

Note that if the Federal Government was not offering Federal subsidized flood insurance then the rich (and all others) would not be buying or building businesses and homes on flood prone beaches and rivers unless they were willing to incur and pay for the "real cost" of the insurance through private insurance companies or act irresponsibly and place everything at risk buying no insurance. Why should the taxpayers as a whole be subsidizing the choices and decisions of other people? Do we need "welfare for the rich" to offset the "welfare for the poor"? Do we need a total nanny state controlling access to ones property and resources? A government big enough to take and to use people's money to subsidize via insurance another group of people's home and business location decisions, is big enough to tell you what you can and cannot do with your property.

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