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The Path To Job Creation Runs Through Regulatory Reform (What's inhibiting job creation?)
Forbes ^ | 09/07/2012 | Ed Pozzuoli

Posted on 09/07/2012 6:19:13 AM PDT by SeekAndFind

With rates of U.S. unemployment still stuck in the nosebleed range of 8%+, and economic growth limp, copious amounts of ink are being spilled by politicians and academics offering ways out of our economic slump. Not surprisingly, most of the solutions involve tax and entitlement reform.

About both, it should be stressed that reform is very necessary. Entitlements are a growing cost born by the economically productive, and every dollar collected and spent by the federal government paying for the past promises of politicians is a dollar that can’t be used to hire new employees or grow a small business into tomorrow’s Microsoft or Intel.

As for taxes, it can’t be stressed enough that they’re a price. When you raise the price of work you get less of it, and as production declines so do the number of jobs. Sooner rather than later we must reduce the federal spending burden and simplify the tax code. The costs of covering our debt with an antiquated and complex tax code are staggering.

Still, all this admittedly necessary commentary ignores what is arguably a greater weight on job creation at the moment: our growing regulatory state. The numbers here are frightening.

According to the Competitive Enterprise Institute’s Wayne Crews, regulation’s “hidden cost” has ballooned to $1.8 trillion on an annual basis. Think about that for a moment: the price of various rules and barriers to production foisted on job-creating businesses is over half as much as our extraordinarily bloated federal government each year. This is both incredibly wasteful and economically ruinous.

In 2011 alone, regulators largely operating free of Congressional oversight issued 3,807 new rules. With the economy still struggling to re-enter the fast lane one might assume that the regulatory burden would have been lightened in 2012. You would assume incorrectly.

(Excerpt) Read more at forbes.com ...


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: jobs; regulation; unemployment

1 posted on 09/07/2012 6:19:16 AM PDT by SeekAndFind
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To: SeekAndFind; holdonnow
OMG- I knew it was bad but I had no idea it was THIS bad:

According to the Competitive Enterprise Institute’s Wayne Crews, regulation’s “hidden cost” has ballooned to $1.8 trillion on an annual basis. Think about that for a moment: the price of various rules and barriers to production foisted on job-creating businesses is over half as much as our extraordinarily bloated federal government each year.

In 2011 alone, regulators largely operating free of Congressional oversight issued 3,807 new rules.

2 posted on 09/07/2012 6:29:40 AM PDT by SE Mom (Proud mom of an Iraq war combat vet)
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