Former President Donald Trump once said America would "never be a socialist country." He then lost the 2020 presidential election to Joe Biden.
Biden does not seem interested in upholding Trump's pledge, and the latest example of that is a new federal rule on mortgage fees, which will take from people with good credit to subsidize mortgage rates for people with poor credit. Sen. Tim Scott (R-SC) said he strongly opposes the move and claimed Biden was a hard left turn toward socialism.
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Scott should be applauded for his comments because that is exactly what Biden is doing. Fifteen years after the 2008 financial crisis, caused by excessive lending to unqualified home purchasers and repeated unnecessary risk-taking by the country's banks and other financial institutions, Biden wants to create a sequel. It's the latest attempt by Democrats to reward people with challenging finances and credit situations and punish fiscally responsible people. Such tactics are at the core of socialism and communism, a practice that drew Scott's ire.
"It would be funny if we're not talking about the greatest nation on Earth. In Biden's socialist utopia, if you're able-bodied, you don't have to work. If you commit a crime, you don't do any time," Scott said angrily during an interview on Fox News. "If you take out a loan, guess what? You don't have to pay it back. If you have bad credit, you get rewarded with lower interest rates. This utopia never has existed, but this is the path to socialism."
The rule hearkens back to the Obama administration's fondness for wealth redistribution. It makes sense, given that Biden was vice president during this time. What doesn't make sense is the relative lack of outrage over it, especially on the Republican side, specifically among those who have their finances in order and will be affected by this. The silence is deafening among those who claim to be against implementing socialism in the United States.
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"It's exactly what it looks like, and that's why it's so frustrating to watch the Biden administration create rules — not new laws but rules that change the very fabric of our country," Scott said.
It is a dangerous step for the country that more people should be alarmed about. It punishes people who followed the rules, sacrificed momentary pleasure, did all the hard work, and were responsible for their finances. The Biden presidency is punishing the middle class. People with poor credit get a discount, and people with good credit, and also people who make higher down payments, get punished with higher fees. It's an absolute disgrace. It is good to see Scott call Biden out on it. More Republicans should follow his lead.