View Single Post
      02-29-2008, 03:45 PM   #10
Icedog_16
No Member
Icedog_16's Avatar
4
Rep
428
Posts

 
Drives: 2011 E92 335is
Join Date: Feb 2008
Location: Tampa, FL

iTrader: (1)

Quote:
Originally Posted by E82tt6 View Post
Regardless of whether or not I live in Florida (or agree with him on everything politically), he has nearly an 80% approval rating, heh. One can assume that'll make a difference in a florida election.
That's why I said he'd be a good choice to win an election. Problem is, he seems to be a bit left of center at times - and I'm a registered Democrat, but tend to be Libertarian in my view, if that says anything. A true Republican should promote a hands-off approach to business and let market forces decide, he has done everything but.

His meddling with the insurance industry could end up biting him in the a$$. As it is, there is very little capacity in the state and as a result of what he and the other legislators have done State Farm is nonrenewing 50K policies and is no longer writing any new property policies statewide as opposed to not writing in certain areas. The law of unintended consequences in action there. Sad part is, if he had just let things run their course, reinsurance rates would have come down and more players would have entered the arena due to the past two mild hurricane seasons. Mandating that companies lower their rates is the wrong way to go when it flies in the face of actuarially-sound rates. Besides, he has no control over reinsurance in the first place since the companies writing it are domiciled in places like Europe or Bermuda or the Caymans. They did do the only thing I thought they could do to bring reinsurance costs down and that was for the State to offer it. However, there are no funds yet available if there were to be a catastrophic loss. If you were an insurer, would you be willing to get reinsurance at a discount if you knew it wasn't funded and might not be able to pay if the big one hit? I'm allergic to bankruptcy, so as an insurer I'd be willing to pay more to ensure that my policyholders will be looked after and that my business would remain viable. In the end, if the proverbial $hit does hit the fan, the taxpayers will be left holding the bag.

Speaking of taxes, this is probably why he has such a high approval rating: property tax reform. I voted for it, if only for the portability of my homestead exemption. But, ultimately, the measure that recently passed amounts to a band-aid as it doesn't really address taxes for non-homesteaded properties (ie, rentals and businesses), which means that renters get squeezed annually and businesses have to charge more and more for goods and services as property values go up. In the end, he looks like a hero to people who have not bothered to actually read up on the subject, which appears to be about 80% of the populace.