The Immorality of the Housing Bailout

When did we become a country that punishes the good and rewards the bad? I know this is hyperbole but sometimes I think this isn't far from the truth. I do not like to see people suffer and I do believe that we need some basic social safety net. I just not understand why those who have been responsible must bear the burden.

Today's New York Times:

As the Treasury Department prepares a $40 billion program to help delinquent homeowners avoid foreclosure, it confronts a difficult challenge: not making the plan too tempting to people like Todd Lawrence.

“Why am I being punished for having bought a house I could afford?” he asked. “I am beginning to think I would have rocks in my head if I keep paying my mortgage.”

But the benefits of a bailout for his neighbors seem ephemeral to the 45-year-old Mr. Lawrence, especially because he figures the cost of helping them will come, one way or another, out of his pocket as a taxpayer. “I’m basically financing my own financial destruction,” he said.

Comments

Will, It seems like it's

Will,

It seems like it's moral to help those who are less fortunate than yourself, when you as the giver willingly give to the recipient. It's seems like the immorality stems from Congress voting to approve the bailout despite widespread opposition from their constituents, as well as Congress and the President not responsibly structuring the plan so that it is paid for by current taxpayers. As it stands, our kids and their kids will be paying off the bailout.

Jim: the key word you use is

Jim: the key word you use is "willingly". The problem here is that the government is coercing those who have been responsible to give their money to those who have been irresponsible. How we have twisted justice and mercy!

will, "willingly" is the

will,

"willingly" is the key. If I want to help a neighbor, I can choose to. The bailout is the govt saying that I'm going to be taxed b.c. others overspent.

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