posted on November 26, 2002 11:38:30 AM new
That's right! Bush signed a new bill today that allows Insurance Companies to offer Terrorism insurance, charge you a monthly fee, and make you pay for it if it happens!
Americans everywhere are CHEERING for this legislation! It makes them feel "safer" now.
If you read this article Bush Signs Terror Insurance Bill, the Insurance Companies will have to make a co-payment of $5 million dollars, while We, the Taxpayer, will pay for up to 90 BILLION TAX DOLLARS of coverage to ourselves!
Detractors may state that instead of the redistribution of the funds from the Rich to the Poor, this is a case of the Middle-class redistributing its wealth to itself. But in NO CASE WHATSOEVER, has anyone asked the Obvious Question!
Question: If the Insurance Companies only have to make the co-payment, then why do we need to purchase Terrorism insurance through them? Why don't We, the People, simply form our OWN Terrorism Insurance Plan and THROW the Insurance Companies completely out of the picture? I mean, if we have to pick up the bill, we may as well make our own co-pay and save some $$ -- right?
posted on November 26, 2002 12:49:24 PM new
We have the Insurance Cos in the picture because Insurance Cos and Insurance executives contributed heavily to the Republicans. How else can they be paid back ?
posted on November 26, 2002 03:03:46 PM new
Of all groups, the rich and powerful
Insurance Industry expecting and receiving a handout from taxpayers really takes the cake!!! I watched in total disbelief as everyone smiled and applauded while Bush signed this scandalous legislation.
In my opinion, the insurance industry as an offensive racket.
Officially, the market is a place of opportunity once big government steps aside. An opportunity for whom is the question. Meanwhile, the U.S. political system is increasingly relying on taxpayer dollars to protect rich people from market harm, unlike workers. Consider what Congress recently did (not) do for property insurers and workers.
Both houses of Congress just passed a federal terrorism insurance bill. It makes the U.S. taxpayer subsidize the cash reserves of property insurers to the tune of approximately $300 billion should the nation be attacked by terrorists in the future. The private terrorism insurance market will be protected by public funds after President Bush signs this bill on Nov. 26.
The president had claimed that the insurance bill would help create new jobs in the construction industry. The evidence for his assertion was not forthcoming. The market is truly a miracle for property insurers. When the public’s wallet is spread wide for the pickings by Capitol Hill and the White House, of course.
posted on November 26, 2002 10:05:16 PM new
What good does this do America and Americans? Bush claims that "certain" construction sites could not get Terrorist Insurance and the work was being held up. Sounds like a Mafia deal. Bush thinks nothing of putting the Taxpayer's money at Super-Corporate's disposal - so long as the Super-Rich don't have a penny included.
