By Jim Campbell, Citizen Journalist
Every time federal regulations are put in place that stifle innovation and increase costs to a business large or small, indeed it represents a tax, as Elizabeth points out what may be hidden now, won’t be in the future.
Naturally businesses pass the cost of regulation on to the consumer, they in turn paying more for a particular good or service have less money to spend on other things the may need or desire.
Thus the sucking sound heard from one’s wallet or purse is just another way to redistribute wealth in a stealth manner.
The fact is, Washington has become a red-tape factory, crushing American job creation under an avalanche of regulations written by unaccountable bureaucrats.
While some public sector jobs may be saved or created, but those are in an entirely different ballpark than the jobs that should be created in the private sector. During the discussion that has been ongoing, one issue seems to continually come to the surface, namely that of the burden that has been placed on American businesses by the federal government. This was the inspiration for an article, has a very fitting name for it, Regulation Nation.
The “Environmental Protection Agency, “(EPA) has become one of the current administrations favorite ways to circumvent congress to ensure the redistribution of taxpayer wealth to the third world.
Perhaps that is why a headline featured, “EPA’s Lisa Jackson Dodges Congressional Hearing; What’s She Afraid Of?”
The annual cost of federal regulations in the United States increased to more than $1.75 trillion, according to a study commissioned by the Small Business Administration. That’s equal to 12% of our entire economy. If every U.S. household had to pay an equal share of the federal regulatory burden, each of us would owe $15,586. That study was commissioned in 2008. Just imagine how much regulatory costs have increased in the last 4 years.