[quote=TheBreeze]No intelligent business person would have ever offered 110% interest-only loans. You will only see that type of ‘deal’ offered by banks who are using other people’s money and are backed by the state. That is where the socialism comes into play.
If the bank is sufficiently collateralized against your business loan, then it can be characterized as a business transaction. If it is not, then yes, you are feeding at the government trough. It’s the same thing that welfare queens do, but you somehow fashion yourself as a legitimate business person. I laugh at that characterization.[/quote]
I’d argue no intelligent business person would continue to pay their mortgage if they could buy the same house next door for 50% less.
Have you ever run your own business? Just curious.
From your stance, I am similar to a welfare queen because I took out a business loan from a bank without verifying if they had sufficient collateral to make the loan. Of course I paid back the entire loan, and all of it’s interest. And the government certainly had no qualms in taxing the crap out of myself and my company last year.
Here’s a common definition of a welfare queen:
“A welfare queen is a pejorative phrase used in the United States to describe women who are accused of collecting excessive welfare payments through fraud or manipulation.”
In your plight to broadly categorize people, I would at a minimum suggest you choose a better mascot.
