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Republicans Miss the Point on Mortgage Fee Hike

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Back in January, the Federal Housing Finance Agency (FHFA) announced that mortgage fees for some borrowers would increase beginning May 1, while other borrowers would see their fees decrease. The FHFA is an independent federal agency that “was established by the Housing and Economic Recovery Act of 2008 (HERA) and is responsible for the effective supervision, regulation, and housing mission oversight of the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), and the Federal Home Loan Bank System, which includes the 11 Federal Home Loan Banks (FHLBanks) and the Office of Finance (OF).” The agency’s mission is to ensure that Fannie Mae and Freddie Mac — which buy about two-thirds of the mortgages originated by U.S. lenders — and the FHLBanks “fulfill their mission by operating in a safe and sound manner to serve as a reliable source of liquidity and funding for housing finance and community investment.” These three entities together ...

How Not to Abolish the Income Tax

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Throughout this country’s history, Americans have always paid taxes of various kinds. But no matter what kind, all taxation is theft. Everyone but a criminal obtains his income voluntarily. He either sells some good or service or he receives some kind of  stipend or gift But as explained by the Austrian economist Murray Rothbard (1926–1995): Only the State obtains its revenue by coercion, by threatening dire penalties should the income not be forthcoming. That coercion is known as “taxation,” although in less regularized epochs it was often known as “tribute.” Taxation is theft, purely and simply, even though it is theft on a grand and colossal scale which no acknowledged criminals could hope to match. It is a compulsory seizure of the property of the State’s inhabitants, or subjects. The income tax This most insidious of taxes is the income tax. As Frank Chodorov (1887–1966) explained in his book The Income Tax: Root of All Evil (1954), the income tax ...

What Republicans Aren’t Saying about Food Stamps

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According to Democrats and their allies at progressive and liberal outlets, millions of Americans are going to go to bed hungry or starving to death because the extra food-stamp benefits they were receiving because of the “pandemic” ended last month. Now called the Supplemental Nutrition Assistance Program (SNAP), the food-stamp program is a federal program administered by the Food and Nutrition Service of the U.S. Department of Agriculture but operated by the states. Since 2004, electronic benefit transfer (EBT) cards instead of “stamps” have been used to issue benefits. According to SNAP data, at the beginning of 2023, there were 42,579,434 persons in over 22 million households receiving an average monthly benefit of $259.50 per person, or $491.25 per household. Benefit costs exceeded $113 billion in fiscal year 2022. SNAP benefits are means-tested and have work requirements for most people. Eligibility is determined by household size, assets, and gross and net monthly income. If all members ...

“Law and Order” and Libertarianism

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The election year of 1968 was a tumultuous one marked by the assassinations of Sen. Robert Kennedy and civil rights leader Martin Luther King, urban race riots, college antiwar demonstrations, and a Democratic National Convention that saw the Chicago police and the National Guard have violent clashes with protestors. The 1968 election Republican presidential candidate Richard Nixon (1913–1994) campaigned on a ...