Las Vegas Review-Journal covers Ten Thousand Commandments by Clyde Wayne Crews Jr.
With the 24/7 focus on Donald Trump’s every move and comment, the less-than-stellar economic legacy of his predecessor is slowly fading from Americans’ minds. A new report, however, serves as a healthy reminder of just how many new edicts and regulations President Obama imposed on the private sector — and the costs of those interventions.
The Competitive Enterprise Institute — a non-profit public policy organization “dedicated to advancing the principles of limited government, free enterprise, and individual liberty” — recently released its annual Ten Thousand Commandments, outlining the bloated and growing “hidden taxes” associated with America’s regulatory state. Compiled by the institute’s vice president of policy, Clyde Wayne Crews Jr., the report examines the size, extent and cost of these rules and mandates.
And when it comes to the Obama years, there is a lot to look at.
According to Mr. Crews, the total federal regulatory cost for 2015 hit $1.885 trillion — more than the gross domestic products of Canada or Australia. That is essentially a hidden tax that amounts to upwards of $15,000 per U.S. household each year. And while many Americans complain about having to pay taxes, the CEI report points out that regulatory compliance costs exceed the $1.82 trillion that the IRS collected in both individual and corporate taxes in 2015.
Read the full article at Las Vegas Review-Journal.