Next to excessive taxation, there’s no greater drag on the economy than outrageous government regulations.
The federal government will take roughly $3.6 trillion in taxes from us this year, and that doesn’t count all the other taxes you pay (state income tax, property tax, sales tax, etc). Regulation comes in a close second when it comes to the costs it imposes.
A study by the National Association of Manufacturers found the total cost of regulation to the American economy in 2012 to be $2.028 trillion…. and that’s BEFORE four more years of new regulations under Obama.
Some are too stupid to believe: like 21 USC §461 & 9 CFR §381.171(d) which makes it a crime to sell “Turkey Ham” as “Ham Turkey” or with the words “Turkey” and “Ham” in different fonts, 18 U.S.C. §1857 which makes it a federal crime to knowingly let your pig enter a fenced-in area on public land where it might destroy the grass, or 40 U.S.C. §8103(b)(4) which makes it a federal crime to injure a government-owned lamp.
You’re paying politicians to invent this kind of insanity.
Obviously those are some small examples, but there is a massive cost to complying with hundreds of thousands of petty regulations, and they’re disproportionately a burden on small business.
Obama is the only president to ever surpass the 80,000 mark of regulatory pages added in a year. He rushed a number of regulations through after Trump’s victory, adding 527 pages in a single day on November 15th.
But all that could soon change… big time! Take a look:
President Donald Trump told business leaders on Monday he believes he can cut regulations by 75 percent or “maybe more.”
At the White House with 10 senior executives, he repeated his campaign pledges to roll back corporate rules, arguing that they have “gotten out of control.” A White House spokesman did not immediately respond to a request to elaborate on which rules Trump will target or how the 75 percent was calculated.
“We’re going to be cutting regulation massively,” but the rules will be “just as protective of the people,” Trump told reporters at the meeting that included Tesla Motors CEO Elon Musk and Under Armour CEO Kevin Plank.
Support Conservative Voices!
Sign up to receive the latest political news, insight, and commentary delivered directly to your inbox.
On Trump’s first day in office Friday, he enacted a freeze on new and pending regulations.
That’s a good start. Eliminating all these useless regulations will provide much more than a trillion dollars in stimulus – and we don’t have to bankrupt the country to enact it.
Share this post on Facebook and Twitter!
Read this Next on ThePoliticalInsider.comPresident Trump’s Charity Changed This Campaign Staffer’s Life Forever