Quote:
Originally Posted by searay
The millionaires are the economy. The rest of us go along for the ride, pick up the scraps and support our families.
Florida is working in a lot of directions to help everyone. I do agree
that we shouldn't be subsidizing a rebuild on a barrier island. If you can afford to be there then build it back on your own so when it happens again it is on them not us.
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You make a good point.
I would add that the "millionaires" who live or own property on Sanibel pay significantly higher insurance rates than people who live a few miles inland. Everyone who owns in Florida is subject to higher insurance rates because of the exposure to hurricanes and history of substantial claims in the state. On the west coast of Florida insurance rates are much lower when you get a few miles from the Gulf. Auto insurance rates in Florida are about double what NH rates are, again because of a higher claims history.
The government has put a lot of disaster relief money into this recovery. However speaking of the "millionaires" on Sanibel that was referenced, those people pay a lot more in taxes too.
It would be interesting to know how much is or was collected in annual property insurance premiums from all Sanibel property owners but I don't know how to find that information. It would also be interesting to know the amount of property and income taxes paid by the Sanibel residents but again, I don't think those numbers are readily available.
There are thousands of people who have come to Florida, working because of the hurricane. They have come from all over the country and I doubt many of them are millionaires.
The insurance adjuster that came to my house was from New Mexico and an engineer who was here yesterday is from Alabama. All of these people rent cars, stay at motels, and eat at local restaurants. This keeps the local economy moving and helps people at all income levels.