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The Left Is Chipping Away at American Ethos

The opinions expressed by columnists are their own and do not necessarily represent the views of Townhall.com.
AP Photo/Susan Walsh

When the calendar flipped from April to May just a few days ago, yet another piece of the American ethos was further eroded. 

A new Biden administration rule, which inappropriately tinkers with the housing market, was implemented to punish good creditors on behalf of the financially irresponsible. The rule, which comes from the Federal Housing Finance Agency, forces individuals with good credit to pay higher fees and subsidize those with poor credit. In other words, the people who paid their bills on time are literally paying for those who do not. 

"Homebuyers with good credit scores will soon be facing higher mortgage fees as the Biden administration seeks to close the racial homeownership gap and get more first-time and low-income buyers through the door," Newsweek reported. "Starting in May, a new federal rule will upend the current structure of the Loan-Level Price Adjustment (LLPA) matrix. Homebuyers with a good credit score could see their monthly mortgage payment rise by over $60 a month, while riskier borrowers will get more favorable mortgage terms because their fees were reduced."

This type of rule isn't simply about getting a mortgage, it's about the ethics of hard work and personal responsibility. Once upon a time in America, if you worked hard, paid your bills and strived to be financially independent, you were rewarded. These were basic tenets of the American ethos. Now, Americans are punished for doing things the right and responsible way in favor of the unethical and irresponsible. 

This outrageous attack on personal responsibility comes nearly a year after President Joe Biden reallocated student loan debt from wealthy college degree holders to hardworking Americans without college degrees – most of whom couldn't afford to go to college. Non-degree holders didn't voluntarily take out millions in student loan debt they knew they could never repay, yet are paying for countless individuals who did. In "forgiving" this debt, Biden used the power of the federal government to commit grand theft of taxpayer dollars. 

"Every dollar spent on student loan relief is a dollar that could have gone to support those who don't get the opportunity to go to college," former Obama economic advisor Larry Summer said about the move. "Student loan debt relief is spending that raises demand and increases inflation. It consumes resources that could be better used helping those who did not, for whatever reason, have the chance to attend college. It will also tend to be inflationary by raising tuitions."

There is no such thing as debt cancelation, only payment by others.

This type of compulsory reallocation, whether it's through the housing market or with student loans, is Marxism and part of the socialist dream Democrats continue to implement by government force.

"That's not the way you grow as a country, as an economy, by essentially saying, 'Hey, if you spent recklessly, you lived above your means and you stopped making your payments on time, have no fear. Someone who's done it the right way is going to pay for you.' That's not what capitalism is all about, and it puts us in a situation where there's no consequences when you make bad decisions," Strategic Wealth Partners CEO Mark Tepper recently told Fox Business. 

Socialism has always been incompatible with American work ethic. Succeeding in America wasn't possible without hard work and personal responsibility. No longer. This is why the left has always been intent on tearing down the system and replacing it. President Joe Biden, who falsely portrayed himself as a moderate, has been greatly helpful to that cause.



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