What Small Business Owners Think About Income Tax
Fox Business cites Wayne Crews' work on regulatory compliance costs:
With so much revenue potential when taxpayers and businesses thrive, one would think the government would try to create a favorable environment for those who hire and make payrolls. Unfortunately, much of our tax dollars feed a bureaucracy that’s particularly good at one thing: regulating business.
Research by Wayne Crews of the Competitive Enterprise Institute estimates annual regulatory compliance costs businesses $1.88 Trillion. At 11% of GDP, that’s $280 Billion more than tax receipts. Again, it gets worse: Crews says small businesses pay double per employee per year for regulatory compliance than big businesses. For small business, regulation compliance is a parasitic stealth tax.