The poor suffer most from runaway regulation
The Hill cites Wayne Crews's calculated cost of federal regulation from his annual Ten Thousand Commandments report.
Regulatory costs, which inevitably are passed along to consumers, are enormous. Using many of the government's own cost estimates, which are notoriously low, as bureaucrats tend to lowball the costs and overstate the benefits of their rules, an analysis by the Competitive Enterprise Institute found that federal regulation alone costs consumers and businesses at least $1.9 trillion — more than 11 percent of current GDP — every year in compliance costs and lost economic productivity. According to the author, federal regulation is, in effect, “a hidden tax that amounts to nearly $15,000 per U.S. household each year."
Read the full article at The Hill.