By Thomas E. Hall
When executive imposes new taxes, ideas, or laws, it creates results that frequently vary from the unique rationale. often times, those results are so critical that they render the coverage a failure. The legislation of accidental outcomes has taken on an expanding value through the period of ever-expanding executive, and this publication explores 4 vital examples: cigarette taxes, alcohol prohibition, the minimal salary, and federal source of revenue tax. Thomas E. corridor examines how the regulations got here into being, what underlying political concerns inspired the method, the accidental results of the guidelines, and why lots of those rules are nonetheless in position. simply because lots of those unintentional effects are heavily antagonistic, the writer argues that the ethical of those 4 key examples is that every time a brand new executive coverage is being thought of, even more certain evaluate has to be given to the diversity of power accidental consequences—a perform that's infrequently or thoroughly undertaken.
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Additional info for Aftermath: The Unintended Consequences of Public Policies
Citing the fact that homeownership was more prevalent among whites than nonwhites, banks were accused of “redlining,” an alleged practice whereby they do not issue loans to individuals or businesses in certain sections of cities. Since minorities disproportionately occupied the areas where redlining was said to be taking place, the implication was that banks were practicing discriminatory lending. This claim received support in 1992 when the Federal Reserve Bank of Boston released an influential study that reported that “black and Hispanic mortgage applicants in the Boston area were more likely to be turned down than white applicants with similar characteristics” (Munnell et al.
For example, the 1936 Revenue Act maintained the $2,500 exemption for a married couple, but raised tax rates to a maximum of 79 percent on incomes above $5 million. Corporate income was taxed at a maximum rate of 15 percent, plus a tax was instituted on undistributed profits. 6 percent (2009, 19). 12 The Social Security Act (1935) imposed a 2 percent payroll tax on the first $3,000 of wage income beginning in 1937. 13 Except for the Social Security levy, taxes assessed on income during the Depression were directed at high earners.
S. economy and financial system. So Many Examples There are countless examples of the law of unintended consequences as applied to government policies. One case much in the news during the last several years involves traffic cameras at street intersections. Traffic cameras have two primary purposes: (1) to motivate motorists to drive in a safe manner by not running red lights and (2) to raise revenue for local governments by allowing them to simply mail traffic tickets (along with a photo of the incident) to offending drivers.
Aftermath: The Unintended Consequences of Public Policies by Thomas E. Hall