Democrat Representative Ilhan Omar introduced a bill last week calling for the cancellation of rent and mortgage payments through the end of the coronavirus pandemic. The legislation would establish a fund for landlords and mortgage holders to cover losses from the canceled payments. That means that potential bank losses would be transferred to taxpayers. It would authorize another fund to finance the purchase of private rental properties by non-profits, public housing authorities, cooperatives, community land trusts, and states or local governments. This would transfer hard assets from private hands to governments and so-called non-profit institutions.
The total takeover by the state is in the making before our eyes.
