The Public Want Price Caps on Cell Phones, Cars, Coffee, And Loans
Earlier this month a lobbying group called the Center for Responsible Lending (CRL) released a survey purporting to show that most Americans support capping interest rates on short-term loans. But a recent survey conducted by CCF shows that many Americans support a price cap on nearly everything: 39% support the government limiting the price of a cup of coffee as well as new televisions!
CCF's survey also showed that 57% of Americans support Congressional action to cap the cost of cell phones, 56% support capping interest on short-term loans, and 55% supported capping the price of automobiles.
These results make it clear that Americans don't understand the negative consequences of price caps. Given the clear economic consensus that artificial price ceilings lead to product shortages, black markets and other unfavorable outcomes, the Center for Responsible Lending's insistence on price caps is itself irresponsible. Their use of flawed public surveys to justify their positions is disingenuous.
"The American public wants Congress to cap the price of anything that would make things cheaper for them which makes their opinion on legislative price caps about as relevant as their opinion on who should win the lottery," said
You can view the results of CCF's survey at http://consumerfreedom.com/2009_04_survey_results.htm
This report presents the findings of a telephone survey conducted among a national probability sample of 1,001 adults comprising 501 men and 500 women 18 years of age and older, living in private households in the continental
SOURCE Center for Consumer Freedom