Shock: Bill for Regulations Higher than Taxes to Uncle Sam, $3.7T Total
The Washington Examiner discusses the Treasury’s record-breaking tax revenue with Wayne Crews.
American taxpayers and corporations not only paid a combined record $1.85 trillion in taxes to Uncle Sam so far this year, but they’ve also been hit with a $1.9 trillion bill in regulatory and red tape costs, according to a new analysis.
The final bill so far is $3.7 trillion, according to the regulatory watchdog Competitive Enterprise Institute.
The record federal income and corporate tax receipts are “still no match” for the cost of regulation for cost of regulations, said Clyde Wayne Crews, vice president for policy and director of technology studies at the Competitive Enterprise Institute.
Read the full article at the Washington Examiner.