The title says it all. Politicians socialize risk by allocating tax monies the rest cannot refuse to pay, to their supporters. Just so they can retain power of political office. The use of political office for theft isn’t new. Roman emperors falsely charged patricians with crimes so they would be executed and their wealth seized to fund gladiatorial combat for the public or to build personal palaces.
In countries without corruption, private citizens and businesses buy insurance against natural disaster. If insurance rates are too high, rational thinking persuades people to not place wealth in harm’s way. Not only does socializing risk force the rest of us to pay blue states’ insurance claims, it causes moral hazard.