A $5.5 million waterfront home in Darien, Connecticut, with five bedrooms and a swimming pool seems an unlikely recipient of your tax dollars, but it is. The owners applied for and received a $150,000 grant from the Department of Housing and Urban Development years after they paid for repairs in the wake of Hurricane Sandy. The Darien home is just one among thousands owned by wealthy people with expensive waterfront properties subsidized by you, the taxpayer. These proprietors are not committing fraud. They are merely taking advantage of programs Congress authorized and federal agencies tweaked to deliver federal largess to...