Monday, June 20, 2016

The Regulatory Juggernaut

Here is an excerpt from my recent piece in the Washington Examiner

"It's hard to find anything much more detrimental to economic growth than a $1.5 trillion federal income tax, but thanks to the Obama administration's regulatory juggernaut, you certainly don't have to look far. Indeed, the economic cost of regulatory compliance now totals an astonishing $1.88 trillion, according to the Competitive Enterprise Institute. This "hidden tax" on consumers, households and business has reached critical mass and may now be the chief reason the economy is stuck in low gear growing at just 0.5 percent in the first quarter of this year. And the most recent figures are even worse. U.S. job growth in May was the slowest in five years with 458,000 people leaving the labor force. That means nearly 95 million people are no longer working and the civilian labor-force participation rate is just 62.6 percent — the lowest since the 'malaise' of the 1970s."

Read the rest of the editorial here.

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