The Un-American Dream

Discussion in 'Current Events' started by Capitalist, Oct 4, 2010.

  1. Capitalist
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    Capitalist Jeffersonian Liberal

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    For nearly a century it has been the policy of the U.S. government to increase American homeownership. Its efforts include (but aren't limited to) bouts of easy money from the Fed, the mortgage-interest deduction, the exclusion of capital gains on primary residence sales, direct and indirect subsidies from the Department of Housing and Urban Development, and artificial liquidity pumped into the mortgage market via government sponsored entities Fannie and Freddie.
    Policymakers assure us that the next generation of government housing programs will be "carefully designed" (bring on the next five-year plan, Comrade!). But the real question is why the government should be doing anything to promote homeownership.
    "I do believe in the American Dream," said President Bush in 2002. "Owning a home is a part of that dream, it just is. Right here in America, if you own your own home, you're realizing the American dream." Bush was echoing a theme that reaches back at least to Herbert Hoover: When the government encourages homeownership, the story goes, it strengthens individuals and communities and thereby fosters the American Dream.


    They're wrong. A government crusade to promote homeownership is un-American.
    America's distinction is that it was the first nation founded on the principle that you have a right to pursue your own happiness without government interference. But the government's homeownership crusade means it gets to decide how you should live, and stick-and-carrot you into living that way.
    Take the mortgage interest deduction. It so happens that Yaron has a mortgage and Don rents. Both of us have good reasons for our respective choices, but because the government has decided everyone should buy a home, for each dollar Yaron pays on his mortgage, he saves a few pennies on taxes, while Don does not. Instead of playing the role of impartial umpire, the government is playing the role of paternalistic master: "To keep more of your money, do what I want."
    Read the rest here.
     
  2. Conspiracist
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    Conspiracist Snuggle weather rocks!

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    Just once I would love to see a thread started by you that is not gloom and doom and just plain partisan hackery.
     
  3. Godboy
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    Godboy Gold Member

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    This thread sucks. Go and make an interesting one, then we can have an actual discussion.
     
  4. Capitalist
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    Capitalist Jeffersonian Liberal

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    Hahahaha....
    Must have hit a nerve.....:lol:
     

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