Unintended consequences
Cry Wolf Quotes
The Community Reinvestment Act does not appear to have had any positive effect on lending to residents of LMI neighborhoods. In fact, it appears to have had a negative effect on CRA lenders and LMI residents alike… While both CRA- and non-CRA lenders have increased the number of loans to low-income borrowers, the financial soundness of CRA-covered institutions decreases the better they conform to the CRA.
Effluent taxes are a license to pollute. If the tax is low or moderate there is little incentive to provide treatment prior to discharge. If the tax is too high some firms, because of size, marginal nature or age, may be forced to close. This can, and does, happen under existing water quality programs. But such shutdowns are directly related to water quality. Shutdowns due to effluent taxes which ignore water quality and produce no tangible benefits are economically and socially unacceptable.
This bill will make it difficult for the poor baker to continue to exist, thereby making it easier for the large baker to combine with his larger brother and increase the price of bread or lower the size of the loaf, why, that is a very strong point in opposition to this bill, because the very people you are going to aid—the poor have got to be taken into consideration.
This bill will cause further migration from the farm areas to the industrial areas and will invite the transfer of workers from the class of those not gainfully employed in order to share in the unemployment benefits…Unemployment insurance, which in many instances places a premium on indolence, would unquestionably defeat this proposed plan of the administration to place workers in the areas of lower living costs and keep them gainfully employed.
