Thursday, November 13, 2008

Taking Money From The Children

It is a bad idea to use taxpayers’ money to pay for the bad debts which American financial institutions have incurred from lending money to people with bad credit history to purchase homes beyond their means.

This money is meant for the future generation. It’s akin to taking money from the next generation to pay for the mistakes made by the current generation.

It’s like a terminally-ill poor man who chalks up hundreds of thousands of dollars in hospitalisation bills and dies eventually. All these debts are left by him for his children to pay off. It’s bad enough a man has no inheritance to pass on to his children. It’s just overwhelmingly sucky for a man to pass burdensome and crippling debts down to his children to shoulder and pay off.

This is what’s good about the advanced medical directive. If one knows he’s terminally ill and chances of him recovering from treatment are doubtful and remote, he should choose not to be kept alive as a vegetable and be a burden to his children before and after his death. Especially if he and his children are not rich.

If a man has no financial wealth for his children to inherit upon his death, the least he could do is to avoid chalking up a mountain of hospitalisation debts for his poor children to bear.


Blogger Lunch is Served! said...

That's why it's important to buy insurance when one is young mah. So that the medical bills won't be passed on to the kids. But seriously, if I kena cancer or multiple organ failure when I'm 70, I'll just tell the doc to pull the plug.

Friday, November 14, 2008 at 8:55:00 AM GMT+8  
Blogger Mockingbird said...

To LIS: Gimme a five, sister :) i would tell the doc to pull the plug too if i were u, caught in the same predicament :)

Friday, November 14, 2008 at 9:10:00 AM GMT+8  
Blogger Lunch is Served! said...

Well, I'm only saying this because a certain very elderly and very ill distant relative is currently draining his kids dry of their medisave and cash. On top of that, the children are having massive quarrels about the medical bills. It's really painful to watch. I only have one girl, and I don't really want her to go through all that anguish in the future. So I'll look after myself by loading up with insurance...

Friday, November 14, 2008 at 4:32:00 PM GMT+8  
Blogger Mockingbird said...

To LIS: i bet the tons you're spending on your healthcare insurance now would relieve your princess of all, if not most of, the financial burden of hospitalisation bills decades down the road :)

Friday, November 14, 2008 at 5:56:00 PM GMT+8  
Blogger JOEPSC said...

The US has no choice.. they don't even have a plug to pull.. LOL Using taxpayers' money in this instance is bad, but not using will be much worse!

Friday, November 14, 2008 at 8:43:00 PM GMT+8  
Blogger Mockingbird said...

To Joepsc: i can only pity the next generation of Americans whom the government reserves were originally intended for. Once this money is spent to save the current generation, the next generation would have to pay for it. It sounds absolutely sucky.

Monday, November 17, 2008 at 2:38:00 PM GMT+8  

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