Should US taxpayers pay increased taxes to aid people who lost their homes to foreclosures?
by 
Ed the Jetpacking Headbanger
ANSWERS: 5
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No. People should realize they're in trouble and sell the house before they get stuck in that position. I understand it's hard to admit you're not making it, but it's not MY fault they get foreclosed on instead of selling.
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No! Down with increased taxes! Vote for personal responsibility! (Something people seem to have no concept of anymore!)
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I am uncertain how to react to the subprime/ARM mortgage debacle and the high rates of foreclosure that it has caused. However, before we get on our moral 'high horse' and complain about using taxpayer to help these people, we should remember that our government has done similar 'bailouts' MANY times in the past. Chrysler Corp., Continental Illinois Bank, the S&L industry, the airlines after 9/11, etc., etc. The list is quite long. Why should we 'draw a line in the sand' this time? Why should we opt for inflicting moral hazard in this case when our government/society didn't in the aforementioned cases? Just something to think about....
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If people had their homes foreclosed because they couldn't afford it they should have a)sold it before it foreclosed and b)it's their own fault...they need to have been more financially prepared.
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No.
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