In 2016, the government taxed its citizens nearly $1.9 trillion through federal regulations alone — yes, trillion with a “T.” Many of these regulations never arose from bills passed by Congress. The Daily Caller recently reported on the CEI report regarding these hidden taxes.
American consumers and the U.S. economy were hit with a nearly $1.9 trillion tax in 2015 through federal regulations, according to a free market thinktank’s new report.
Competitive Enterprise Institute (CEI) describes the thousands of ways Americans are unknowingly taxed by federal regulations in its annual report, “Ten Thousand Commandments: An Annual Snapshot of the Federal Regulatory State.”
“The federal government has become very savvy in hiding costs by expanding their reach beyond taxes into regulations,” Clyde Wayne Crews Jr., the report’s author, said in a statement. “Unfortunately, regulatory costs get little attention in policy debates, because unlike taxes, they are difficult to quantify because they are unbudgeted and often indirect.”
“But the impacts of burdensome regulations are very real and increase costs for consumers and businesses, limiting productivity and a thriving free market,” he continued.
Federal regulations hide a $15,000 tax per household each year, according to the report. The costs associated with these rules often affect businesses’ prices, workers’ wages, and growth.
The report goes on to say that the Obama administration has increased the average amount of yearly regulations by roughly 30% from George W. Bush’s administration. While liberals love to ironically refer to the banks and businesses as “too big to fail,” it appears they do not share the same sentiment for the federal government.
Source: The Daily Caller
Obama is laughing that he will not have to pay like the rest of Americans.–saying how stupid the American people are.
Obviously regulations just appear for no known reason. But maybe its that corporations seek ONLY the bottom line, requiring regulation because everything loses before the bottom line. Always. Americas corporations are the problem. plain and simple. Get money out of politics.