The largest expense, except for housing, in the average American family's budge,t is Government Regulations! This is a hidden $14,974 tax on the average American family. Want to effectively and painlessly cut wasteful taxes, this is the place to make a good start!
From the article:
Most of the country is focused on our spending and debt problem, but unless we also address our nations regulatory burden, our economy will remain under water, Crews said. When compared to federal spending, the cost of federal regulations was more than half the size of the federal governments 2013 budget of $3.5 trillion, and this is part of what is holding back American innovation and wealth creation.
The president has said publicly he will not wait for Congress to pass legislation because he has a pen and a phone. This means the administration aims to implement policy through regulation, which will add a hidden tax on every form of commerce and trickle down to all consumers, he said.
Highlights from the 2014 edition of Ten Thousand Commandments include:
◾This is the 21st edition of Ten Thousand Commandments. In that time, 87,282 final rules have been issued. Thats more than 3,500 per year or about nine per day.
◾Compliance costs and economic impacts of federal regulations reached $1.863 trillion in 2013. That is larger than the entire economy of some countries, including Canada or Australia.
◾There were 51 rules for every law in 2013. This Unconstitutionality Index is the ratio of regulations issued by agencies compared to legislation passed by Congress and signed into law by the president. There were 72 new laws, but 3,659 new rules. A new rule every 2 ½ hours.
◾Regulatory costs amount to an average of $14,974 per household 23 percent of the average household income of $65,596 and 29 percent of the expenditure budget of $51,442. This exceeds every item in the household budget except housing more than health care, food, t***sportation, entertainment, apparel, services and savings. Some 63 departments, agencies and commissions have regulations in the pipeline.
◾The 2013 Federal Register contains 79,311 pages, the fourth highest ever. The top two all-time totals are 81,405 pages in 2010 and 81,247 in 2011, both under President Obama.
http://www.humanevents.com/2014/05/05/regulations-take-1-8-trillion-bite-out-of-economy/