Regulation is a tax on the American paycheck. @henryimiller @hooverinst

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04-19-2017

(Photo:Russell Lee (1903–1986) Link back to Creator infobox template wikidata:Q514628

(NARA record: 2489414)

Record creator Department of the Interior. Solid Fuels Administration For War. (04/19/1943 - 06/30/1947)

Title P.C. Goins, section foreman, and family eat dinner in kitchen in their home in company housing project. Koppers Coal Division, Kopperston Mines, Kopperston, Wyoming County, West Virginia.

Date 22 August 1946

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National Archives and Records Administration, College Park Link back to Institution infobox template wikidata:Q6970415

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Regulation is a tax on the American paycheck. @henryimiller @hooverinst

“…The economic burden of America's accumulating mountain of regulatory requirements is almost unimaginable. According to a study from the Mercatus Center at George Mason University that used a 22-industry data set covering the years from 1977 through 2012, by distorting the investment choices that lead to innovation, regulation has created a considerable drag on the economy that amounts to an average reduction in the annual growth rate of the U.S. gross domestic product (GDP) of 0.8 percent. That translates to a U.S. economy that is a whopping $4 trillion smaller than it otherwise would have been.

There are numerous reasons for this. For a start, as regulations become more and more complex and burdensome, prospective entrepreneurs and managers must expend more resources on issues related to regulation and have less for innovation and corporate growth.

The Competitive Enterprise Institute's report, titled Ten Thousand Commandments 2016, examines many of the government's own cost estimates, which are notoriously low, as bureaucrats tend to lowball the costs and overstate the benefits of their rules. Nevertheless, the study found that federal regulation alone costs consumers and businesses at least $1.9 trillion every year in compliance costs and lost economic productivity—more than 11% of current GDP. According to the author, federal regulation is, in effect, “a hidden tax that amounts to nearly $15,000 per U.S. household each year."

https://www.forbes.com/sites/henrymiller/2017/04/05/congresss-secret-weapon-is-already-achieving-regulatory-reform/#19e22fb678a1

9 days ago
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mjquinn001

mjquinn001 - 9 days ago

Hyper-regulation and managerialism delivered with political correctness - the "diseases" of our time ? (not in China - no wonder they win in many areas ?)