EDITOR NOTE: Well over a century ago, the philosopher Friedrich Nietzsche wrote “Truth is a mobile army of metaphors,” that through years of long use “seem solid, canonical, and binding to a nation.” The easy interpretation here is that language is slippery, and so is its truth-function. This seems like a fitting preface to the government’s notion of “free money.” President Biden’s offer of free stuff--from his Build Back Better Agenda to his notion of student loan forgiveness--confuses “free money” with “money taken yet freely redistributed.” It’s as if Biden forgot how he received all of that money, to begin with. There is no free lunch, and when it comes to government stimulus, there’s certainly no free money that, in one way or another, hasn’t already been taken from you. He should call it “free redistribution,” in which those who make a bit more will receive only a fraction of what’s been taken (or what’s still yet to be seized). To have money taken from you only to be redistributed and fractionally returned--that doesn’t even qualify for a “bad trade,” as there’s no profit potential in that prospect.
Let's discuss the meaning of "free" through the eyes of president Biden.
Dear Mr. President, who pays for "Free College" and "Free Preschool"?
If someone is paying by force of taxes then it isn't free. Only if "free preschool" comes from volunteers and charitable donations with no external costs is it truly free.
First-Time Homebuyer Act
Let's also discuss Biden's proposed "First Time Down Payments" for buying a home.
"The Downpayment Toward Equity Act of 2021," would create a grant program allowing states to provide first-timers with cash for down payments, closing costs or fees that result in lower mortgage rates.
The second bill, introduced in late April and dubbed the “First-Time Homebuyer Act,” would provide a tax credit of up to 10% of a home’s purchase price — or as much as $15,000 — to first-timers.
To access the tax credit, you won’t necessarily need to be a "first-time" buyer. You’ll be eligible if you haven’t owned or bought a home in the past three years.
It seems Biden and the Democrats have a peculiar definition of "First-Time".
Why Things are Unaffordable
A key reason many things are not affordable in government actions. "Free" down payments artificially boost demand.
We have had countless "affordable home" programs all of which failed for the same reason, free government programs inevitably have a huge cost.
On top of affordable home programs, tariffs raise costs on steel, lumber, and concrete. The lumber tariffs on Canadian lumber which Biden just increased are beyond insane.
The cost of private medical insurance is crazy high as are costs anywhere where government interferes.
George W. Bush signed the "Bankruptcy Reform Act of 2005" making student debt uncancellable in bankruptcy. Guess what happend?
Biden's solution of course is a "free" money student debt forgiveness program.
We have had three rounds of "free" stimulus to such an extent that it "pays" more for many millions of people to collect unemployment rather than work.
That in turn drives up prices at restaurants and other places that have a hard time competing with "free".
Tired of Paying for Free Stuff
Is this an admission that not everyone is college material https://t.co/mnijiCsTCi
— Andy Swan (@AndySwan) July 9, 2021
Dear Mr. President many of us are tired of footing the bill for government-sponsored "free" stuff.
To that end, I graciously volunteer my time for free (no cost to anyone else) to teach you the true meaning of "free" and "first-time" as well.
Original post from Mish Talk