WSJ exposes secret tax Obama has imposed on EVERY HOUSEHOLD in America - and yes, you have to pay!
By Catholic Online (NEWS CONSORTIUM)
4/17/2014 (2 years ago)
Catholic Online (www.catholic.org)
The Wall Street Journal has exposed one of the greatest problems of the Obama administration and how its behavior is hurting the economy. While most would be quick to cry corruption, the reality is far more mundane and at least as dangerous.
Government regulation is a stealth tax on the economy costing $1.9 trillion annually.
LOS ANGELES, CA (Catholic Online) - The Obama administration is legendary for passing massive quantities of regulation which are incredibly expensive and are destroying business and government efficiency.
Regulation is a two-edged sword. A measure of it is necessary to ensure both government and business follow the law, avoid discrimination and dangerous practices while serving the public good. However, as individuals find ways to break the system and cheat, for personal motives or for profit, new regulations are created to close these natural loopholes.
Donate Bibles and fight evil with moral education.
Some administrations are more zealous at doing this than others, and the Obama administration is possibly the all-time champion.
According to the WSJ, which cited the Federal Register, 26,417 pages of new laws were passed in 2013, setting a new record.
Many Americans mistakenly believe that only Congress can make law, but this is false. The executive branch makes most of our law by exercising regulatory authority. The judicial branch can also impact things by "interpreting" laws in particular ways -what is commonly referred to as "legislating from the bench."
These regulations have a cost. The WSJ interviewed the Competitive Enterprise Institute's Wayne Crews who estimated the costs of these regulations to be about $1.9 trillion annually. U.S. households pay about $14,974 in these costs annually, mostly in the form of higher prices, passed along by businesses.
Money spent on compliance is money that is no longer available to build infrastructure, to pay employees more, or to provide better benefits. It's money that is spent on bureaucratic jobs as opposed to creating jobs that produce products of value to the public that can be exchanged.
The WSJ explained: "This regulatory tax makes U.S. businesses less competitive, but it also burdens every American because it is embedded in the prices of all goods and services. Mr. Crews estimates that 'U.S. households 'pay' $14,974 annually in regulatory hidden tax,' or 23% of the average income of $65,596."
This is one of the great hidden costs of the Obama administration. The burdens imposed upon business go far beyond protecting consumers and employees, but rather serve as a hidden tax which raises the entry barrier to business, make business more expensive to conduct, and reduce the quality of life for all.
Some regulations are important and must be had, but if you need to pass 26,417 pages worth in a single year, that's a sign that something is sickeningly wrong with the establishment.
Copyright 2017 - Distributed by THE CALIFORNIA NETWORK
Pope Francis Prayer Intentions for FEBRUARY 2017
Comfort for the Afflicted. That all those who are afflicted, especially the poor, refugees, and marginalized, may find welcome and comfort in our communities.
The House has voted to overturn an Obama rule that stops states from defunding Planned Parenthood. The rule change now means that state tax ... continue reading
Ashton Kutcher, known for his roles in "That 70s Show" and "Punk'd," is more than just an actor. LOS ANGELES, CA (Catholic Online) - ... continue reading
A leaked executive order draft seems to offer religious organizations the right to practice their morality without legal backlash - but one ... continue reading
President Donald Trump's administration will stop fighting in court to implement the Obama administration's transgender bathroom policy, ... continue reading
In a victory for life, the Senate confirmed Tom Price (R-GA), early Friday morning as the Secretary of Health and Human Services. Price is ... continue reading
by Catholic Online
- What is the Pope doing in California?
- Massive storm threatens to flood more than just the Oroville Dam HD Video
- Daily Readings for Monday, February 20, 2017
- Daily Reading for Wednesday, February 22nd, 2017 HD Video
- Pope Francis shares words of wisdom
- Catholics Should Read, Pray, Live and Love the Bible as the Word of God
- St. Wulfric: Saint of the Day for Monday, February 20, 2017
- Daily Reading for Tuesday, February 21st, 2017 HD
- Daily Reading for Monday, February 20th, 2017 HD
- Daily Reading for Sunday, February 19th, 2017 HD
- Daily Reading for Saturday, February 18th, 2017 HD
Copyright 2017 Catholic Online. All materials contained on this site, whether written, audible or visual are the exclusive property of Catholic Online and are protected under U.S. and International copyright laws, © Copyright 2017 Catholic Online. Any unauthorized use, without prior written consent of Catholic Online is strictly forbidden and prohibited.