Is federal rent control, just proposed by Commissar Biden, a good idea or bad?
Well, it’s good in one way — great to torpedo the incentives and capital of owners while reducing the supply of rental units and further eroding property rights.
All of which is bad.
Very bad.
A few details of the economic principles being blithely ignored by Biden and/or his handlers are explained by The Wall Street Journal (“another classic White House policy contradiction: Subsidize housing, then discourage its development”), Mises.org, and Breitbart Business, among other places.
What are the chances that this pot shot at the economy will become law in the near future: slim or none?
Slim.
Not none, unfortunately — we’ve seen too many unthwarted federal attacks on the property rights of landlords and owners, including during the COVID-19 pandemic.
The chances are considerably more than slim if there’s a Biden Simulacrum 2 administration.
The goal of Biden and/or his handlers is to make clear to persons who want something for nothing — a goodly percentage of Biden’s constituency — that even a near-brain-dead party leader or his puppeteers can come up with scads of new schemes to loot fellow Americans as long as Biden or a Biden-type is at least nominally in office.
So if you want more pelf, along with an expiring economy with a war of all against all, vote for Biden!
Or whoever replaces him at the Democratic convention.
If you want freedom, prosperity, respect for property rights and each other, don’t.
This is Common Sense. I’m Paul Jacob.
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