Great Moments in Government Regulations
Originally posted on International Liberty:
Regulation is a hidden tax that in many cases raises the cost of creating jobs and generating wealth. Here are some staggering numbers.
- Americans spend 8.8 billion hours every year filling out government forms.
- The economy-wide cost of regulation is now $1.75 trillion.
- For every bureaucrat at a regulatory agency, 100 jobs are destroyed in the economy’s productive sector.
But those numbers probably don’t mean anything because they are so large. So let’s look at an example of regulation run amok. Here are some of the details from a report at the Daily Caller.