Economy Hit With Hidden $1.9 Trillion Tax From Federal Regulations
The Daily Caller reports on Clyde Wayne Crews's annual report on the costs of federal regulation.
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.
Read the full article at the Daily Caller.