The Daily Caller reports on the cost of federal regulations with Wayne Crews.
This is but one recent example of the unintended consequences of what is now just another ill-conceived regulation. The compound effect of regulation is expensive for consumers. Clyde Wayne Crews of The Competitive Enterprise Institute estimates costs at:
(1.) $1.8 trillion out-of-pocket costs, ultimately all paid by citizens; plus
(2.) $3.5 trillion in taxes to run the federal government regulatory apparatus itself.
Although not recognized, this regulatory confiscation is an invisible tax totaling as much as 28 percent of an average American family’s expenses – even higher for lower income — more out of pocket than health care, food, savings, entertainment and transportation. Only housing costs more.
Read the full article at The Daily Caller.