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Obama’s Hidden Taxes Crushing Economic Growth
Townhall.com ^ | May 12, 2015 | Brian Darling

Posted on 05/12/2015 5:37:59 AM PDT by Kaslin

When I came to Washington years ago, I had a revolutionary glimmer in my eye. I hated big government and I wanted to join a political movement to dismantle it.

That was a long time ago, yet sometimes that rage kicks in when I read about the creeping socialism that is slowly destroying America.

The Competitive Enterprise Institute (CEI) put out a study today titled “Ten Thousand Commandments – An Annual Snapshot of the Federal Regulatory State.” The results will make you spitting mad.

The author Wayne Crews, Vice President for Policy at CEI, found that federal regulation cost $1.88 trillion in 2014 in lost economic productivity and high prices. This breaks down to about $14,976 per household and 29% of an average family budget.

Think about it this way. The U.S. economy is expected to produce about $17 trillion this year in output, yet it would be more if the government didn’t hammer the private sector with the hidden tax of regulations. Regulations are exporting jobs from America to countries with fewer regulations.

When left wing millionaire candidates like Hillary Clinton make believe they want to be a “champion” for the middle class, they never talk about taking action to spur economic growth. They dare not talk about reducing regulations and shrinking government. They always play the class warfare card and pit average America against the evil super rich.

Yet what the left-wingers fail to mention that many of these super rich Americans are job creators. They are heroes of capitalism and free markets. The great minds that created Microsoft, Google and Apple are the ones hiring people.

Average Americans should be angry with the super rich people like Hillary and Bill Clinton who used cronyism and elite government jobs to get filthy rich. They should also be mad at the ideology that leads to massive government regulations that export jobs.

Growth of the regulatory state is not a partisan issue. President George W. Bush piled on 62 big-ticket regulations every year while President Barack Obama has hit us with 81 annually.

The Heritage Foundation released a top 10 worst regulations of 2014 and one example shows local government being the bad guy. Number seven on the Heritage list are regulations governing the ride sharing company Uber. “Uber faces significant hurdles as local regulators try to stop its expansion, claiming that the service is ‘unfair’ to the excessively regulated cab drivers.” Uber is an emerging company that has proven wildly successful, so local governments have used government power to protect cab drivers and to deny consumers cheaper transportation options.

Some get it right. The last election cycle, former Speaker of the House Newt Gingrich campaigned on the idea that he wanted to walk into the White House on his first day and sign a repeal of ObamaCare, Sarbanes-Oxley and Dodd-Frank.

Repeal of ObamaCare is something that many conservatives fear that the Republican party in Congress does not have the fortitude to complete. The recently passed Republican congressional budget assumed ObamaCare taxes are going to be collected for the next 10 years. These Republican leaders give lip service repealing ObamaCare, yet they want to keep the taxes so they can claim their budget balances.

Repeal of Sarbanes-Oxley, the law that imposes costly accounting requirements, should also be on the table. A Cato study from 2006 found that Sarbanes-Oxley has imposed an unusually high cost on smaller corporations.

Repeal of Dodd-Frank, the bill that created the job killing Consumer Financial Protection Bureau, would be a true reform. The Wall Street Journal reported earlier this year that Republicans have been rolling back smaller provisions of Dodd-Frank, yet they don’t have the will to repeal the whole thing.

There a bill that will force Congress to vote on large regulations coming from the executive branch called the Regulations from the Executive In Need of Scrutiny Act (REINS Act). Senator Rand Paul (R-KY) and Representative Todd Young (R-IN) are sponsors of the REINS Act that would require Congress to vote on all regulations with an estimated annual cost of $100 million or higher.

This idea would force Congress to own big regulations. This idea would provide a deterrent to the executive branch to pass on new expensive regulations because if they are too burdensome, they would not have a chance of passing the House and Senate.

The real solution to the problem would be to repeal every regulation on the books and make Congress start over again from scratch. At a minimum, the American people need to pay attention to Congress and make sure they are cutting down on regulations, because they impose a hidden tax on every American.


TOPICS: Editorial
KEYWORDS: cei; cfpb; doddfrank; obamaregulations; regulations; reinsact

1 posted on 05/12/2015 5:37:59 AM PDT by Kaslin
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To: Kaslin
found that federal regulation cost $1.88 trillion in 2014 in lost economic productivity and high prices. This breaks down to about $14,976 per household and 29% of an average family budget.

Sounds like a point that could be damned effective if employed in a campaign by the Republican Party. Of course they won't.


2 posted on 05/12/2015 6:11:31 AM PDT by Buckeye McFrog
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To: Buckeye McFrog
When my baseball team doesn't make it to the post-season, I can watch the games with little emotion and lots of detachment.

I'm starting to view our government from a similar, disengaged standpoint, like a powerless spectator and certainly not a participant.

The administrative state was never subject to the will of the people; it is increasingly not subject to congress either.

It has become an arbitrary state within a state. Next to Obama himself, it is the most dangerous institution we face. This trend cannot continue indefinitely.

3 posted on 05/12/2015 6:47:03 AM PDT by Jacquerie (To shun Article V is to embrace tyranny.)
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To: Jacquerie

“I’m starting to view our government from a similar, disengaged standpoint, like a powerless spectator and certainly not a participant.”

+1

Stick a fork in it...


4 posted on 05/12/2015 7:00:59 AM PDT by aMorePerfectUnion ( "Forward lies the crown, and onward is the goal.")
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To: Jacquerie

I just wish we on the right had the fortitude of those on the left. When we choose to do something, we usually win. (ie: ChikFilA) Our movement is more powerful than the lefts for the simple reason of there are more of us than them.

Our message is clearer, our reasoning more sound and our way of life cleaner. The majority of Americans support our beliefs. Yet, aside from some piddling around the edges with the likes of the TEA Party, we refuse to go into the mud and get dirty.

Frankly, it’s our own fault. Our infrastructure is in place to do anything we need to in order to effect change. We just won’t pull the trigger.

Reagan taught us what to do. He used the Soviets as a prime example that by threatening to bankrupt them, they would stand down. They did. Alinsky taught us what to do. Ridicule them and they will back down. When we do, they back down.

I bet, that if tomorrow we chose a sponsor at MSNBC and said unless “Sharpton is fired immediately for lying on the air and causing the riots we will boycott them”, they will fire Sharpton within a week. BTW, here is a list of MSNBC sponsors. The left tried to use it to get Obie back on the air.

Alcatel press@alcatel-lucent.com
Anheuser-Busch http://contactus.anheuser-busch.com/Email/email.aspx?Si...
Ann Taylor http://www.anntaylorstorescorp.com/contact/index.asp (call or fax)
Avon http://shop.avon.com/shop/assist_email_us.asp
Banco Nacional de Mexico https://portal.banamex.com.mx/esp/atencion_queremos_esc...
Cambridge Technology Partners marketing@ctp-consulting.com
Catalyst http://www.catalyst.org/page/50/contact-us
Champion International http://support.crosspath.com/support/?sess=101.106.99.1...
Chase Manhattan https://www.chase.com/index.jsp?pg_name=ccpmapp/shared/...
Choice-Point http://www.lexisnexis.com/risk/contact /
Chubb Corporation http://www.chubb.com/marketing/chubb2340.html
Coca-Cola http://www.thecoca-colacompany.com/contactus /
Community Health Systems http://www.chs.net/company_overview/contact_us.html
Dell Computer http://support.dell.com/support/topics/global.aspx/supp...
Delphi Automotive http://delphi.com/contact/other /
Fiat http://www.fiat.com/cgi-bin/pbrand.dll/FIAT_COM/contact...
Home Depot http://www.homedepot.com/webapp/wcs/stores/servlet/Cont...
Honeywell http://www51.honeywell.com/honeywell/contact-support/co...
Illinois Tool Works Illinois Tool Works
International Speedy http://www.speedyintl.com/contact_us.php
Internet Security Systems http://www.securitystoreusa.com/help.asp
Invemed http://www.manta.com/c/mm2gr8n/invemed-associates-llc
Morgan Chase & Co. http://www.jpmorganchase.com/corporate/About-JPMC/media...
Kellogg media.hotline@kellogg.com
Kimberly-Clark http://www.kimberly-clark.com/ask/kimberly-clark/countr...
Knight-Ridder http://www.mcclatchy.com/2006/06/12/380/contact-us.html
Microtune http://www.microtune.com/company/contact_us.shtml
Morgan Gauranty Trust http://www.jpmorganchase.com/corporate/About-JPMC/media...
National Service Industries http://www.fundinguniverse.com/company-histories/Nation...
New York Stock Exchange http://www.nyse.com/about/newsevents/1095581297695.html
Oglivy & Mather https://www.ogilvy.com/Contact.aspx
Penske http://www.penskeracing.com/about/contact.cfm
Planet Hollywood http://www.answers.com/topic/planet-hollywood-internati...
State Street http://www.statestreet.com/wps/portal/internet/corporat... /
Scientific Atlanta http://www.cisco.com/web/siteassets/contacts/index.html
Sun Microsystems http://www.sun.com/contact/office_locations.jsp
Texaco http://www.texaco.com/contactus.aspx
TIAA-CREF https://www3.tiaa-cref.org/ContactTIAA/ContactTIAA.php
Total Systems Services http://www.tsys.com/About/Contact/index.cfm
TRICON Global Restaurants http://www.yum.com/contact/default.asp
Unifi http://www.unificompanies.com/unifi_contact.htm
Unilever http://www.unilever.com/resource/Contactform/index.aspx
WinStar http://www.winstarworldcasino.com/about-us/contact-form

Imagine boycotting Budweiser at something like NASCAR or Ballgames.


5 posted on 05/12/2015 7:04:36 AM PDT by EQAndyBuzz (two if by van, one if by broom)
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To: Kaslin
Pythagorean theorem: 24 words

The 10 commandments: 179 words

The Declaration of Independence: 1500 words

Federal regulations on the sale of cabbage: 26,911 words

6 posted on 05/12/2015 7:18:22 AM PDT by thirst4truth
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To: EQAndyBuzz

Budweiser isn’t even American anymore. I stopped drinking Budweiser back in my early college days. Never could stand the stuff. However when it was an American company, I did back it even though I stopped drinking it.


7 posted on 05/12/2015 9:51:07 PM PDT by zaxtres
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