You are here

Trump's Tax Bill and Regulatory Reform Will Spark an Economic Boom, Benefiting All Americans

Citations

Writing for Fox News, Chuck Devore cites 10,000 Commandments.

Historic tax cut legislation that President Trump signed into law Friday will give us the chance to see what happens when an entire nation of 326 million people discards the failed policies of big government and managed stagnation, and instead rewards hard work and innovation.

...

The Competitive Enterprise Institute estimates that American taxpayers pay some $63 billion to support 220,000 regulators who enforce 185,000 pages of regulations, typically adding thousands of pages every year. That’s enough bureaucrats to populate a mid-size city.

The massive amount of red tape produced by regulation upon regulation costs our nation’s economy a staggering amount – $1.9 trillion a year. That’s about 10 percent of the U.S. economy. Put another way, the regulatory burden is about the same as the total amount of money collected each year in federal income taxes.

So far, federal agencies under the Trump administration have imposed only three new regulatory actions, while issuing 67 deregulatory actions. That’s progress on a historic scale and it’s received too little attention.

Read the full article at Fox News.