By Thomas E. Hall
When executive imposes new taxes, principles, or rules, it creates results that frequently vary from the unique cause. at times, those results are so critical that they render the coverage a failure. The legislation of accidental outcomes has taken on an expanding value in the course of the period of ever-expanding govt, and this booklet explores 4 very important examples: cigarette taxes, alcohol prohibition, the minimal salary, and federal source of revenue tax. Thomas E. corridor examines how the rules got here into being, what underlying political issues stimulated the method, the accidental results of the rules, and why a lot of those regulations are nonetheless in position. simply because lots of those accidental effects are heavily antagonistic, the writer argues that the ethical of those 4 key examples is that at any time when a brand new executive coverage is being thought of, even more distinct assessment has to be given to the diversity of strength accidental consequences—a perform that's hardly or safely undertaken.
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Extra resources for Aftermath: The Unintended Consequences of Public Policies
The first case considered is the federal income tax and what has resulted from it. S. government’s financial dependence on taxes assessed on alcohol, tobacco, and imported goods, which were burdensome to middle- and low-income Americans. Thus, the establishment of the income tax was about shifting the tax burden away from the lower and middle classes and toward the upper class. The unintended consequence was a flood of tax revenue that amazed everyone, including the income tax’s creators. These funds allowed politicians, who can rarely resist the temptation to spend every cent of available revenue and then some, to go on a spending spree that has lasted decades.
1102). The permanently larger government provided a reason to maintain the World War II tax rates, although the Republicans did try to lower them. They took control of Congress after the 1946 elections and promptly passed tax rate reductions. But President Truman vetoed these changes, citing as his reasons the budget deficit and concerns that unemployment and inflation would rise after the war (Witte 1985, 131–44). Congress was unable to override his veto. By 1948, however, a postwar depression had not appeared, and the federal government was running a budget surplus.
Housing policies, the federal government was attempting to achieve the honorable goal of promoting homeownership but caused an economic catastrophe while doing so. The losses to society far outweighed the gains. How did this fiasco occur? Did the advocates of policies designed to promote homeownership not foresee the negative consequences? Or did they know there might be harmful effects but believed the benefits would outweigh the costs? 5 In this case, the answer appears to be that housing advocates understood that raising the homeownership rate would involve increased lending to risky borrowers, which would lead to more mortgage defaults.