This may not be the most popular thing to say at this point in time in America, but why on earth should I want to bail out homeowners with my tax dollars?
For eons of time homeowners who could no longer afford their mortgages did one of two things--sell or go into foreclosure. If selling wasn't an option, foreclosure was the only thing left, provided they had exhausted all other financing possibilities.
And yes, it has happened to me.
It has happened to millions of Americans through the years. Yet nobody came around with the 'government tit' (Jimmy Stewart's comment about it in the movie Shenandoah) to offer financial help, 'free government money' that is not really free, or a plan to 'buy down the mortgage.'
We succeeded or failed all on our own, sometimes due to circumstances beyond our control, such as a catastrophic illness or loss of income. But we somehow managed to pick ourselves up by our own bootstraps and start over.
And this is my message to those homeowners who somehow think that because they may lose a house, it is therefore the government's responsibility to come in and save it for them. Listen, it is NOT my responsibility as a taxpayer to make sure YOU don't lose your house. That is YOUR responsibility. And if you lose, you suck it up and start over, just like the millions before you have done.
This goes for businesses as well. I have also lost a business. Yet the government tit didn't show itself for me at that point, either.
Thus, I am totally 100% against government bailouts for homeowners and corporations. Do what all others have done in the past who have lost out...suck it up, learn your lessons, and move on. But DON'T expect taxpayers to pick up the pieces for you.
Tuesday, February 24, 2009
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2 comments:
First, my wife and I live very frugally. There have been many times in the past when we would look at a house and be tempted by salesmen to go into too much debt. They would always say well "you will get it all back at the end of the year on your taxes". Well guess what it doesn't work that way. We bought a small cabin out in the sticks, on a river, close to the end of the world, but not close enough for me. We will be entirely out of debt by the end of this year, God willing, and then be able to spend our retirement as was meant to be. Hopefully all this will happen as we plan but if it doesn't then we can still rough it for a while longer
People like you and your wife make this country great. If only there were more of you.
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