The Florida Times-Union cited CEI on the federal regulatory state.
But regulations serve little purpose when they are unnecessary, encourage crony capitalism or are so inefficient that they cause more harm than good.
The Competitive Enterprise Institute reports that the regulatory state imposes $1.9 trillion in annual costs on the economy. Are all of these costs necessary and efficient? No.
In fact, if the regulatory state were an economy, it would be larger than Canada’s entire GDP, the eighth largest in the world.
It costs more than the U.S. government collects from income taxes.