Government takeover
Cry Wolf Quotes
The Community Reinvestment Act (CRA) did the same thing with traditional banks. It encouraged banks to serve two masters -- their bottom line and the so-called common good… By pressuring banks to serve poor borrowers and poor regions of the country, politicians could push for increases in home ownership and urban development without having to commit budgetary dollars. Another political free lunch.
Why should we be singled out more than any other product? It's totally unfair. This industry more than pays its share of taxes and understands its obligation to do that, but these special taxes are another matter.
Imagine the vast army of clerks which will be necessary to keep these records.
To do more would constitute an unreasonable use of the police power and would result in an unjustifiable deprivation of property....without fair compensation.
