Flood Insurance Mainly Benefits The Rich

[angelatc]

Heh. My free cheese!!!

We should have a #RPTYS hash tag, 'coz Ron Paul Told Ya So:



National Flood Insurance Program a hidden subsidy for rich and needs major overhaul, experts say

http://www.politico.com/agenda/story/2017/08/08/hidden-subsidy-rich-flood-insurance-000495

The cost of an NFIP policy averages about half of what would be a market rate. Congress actually mandates this inaccurate pricing method. In 2014, it hastily revoked a few tentative steps at reform after constituents complained loudly when the NFIP tried to charge something approximating market rates for flood insurance.