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 (3 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 JUNE 2017
National Leaders. That national leaders may firmly commit themselves to ending the arms trade, which victimizes so many innocent people.
Nancy Pelosi, long the reigning queen of the Democratic party, is about to lose her crown. Under her leadership, the Democratic Party has ... continue reading
Why do liberals want to kill conservatives? Here's a list of liberal threats and attacks on conservatives since mid-2016 Watch
When people don't like the outcomes of political decisions, they can become passionate. There was no shortage of conservative outrage ... continue reading
The Crusades never ended. Despite popular belief, the world's most ardent Muslims covet Jerusalem. And they have no intention of ending ... continue reading
There is only one kind of Islam in the world, and the politically correct ignore this fact at their peril. To understand the risk posed by ... continue reading
Washington D.C., May 31, 2017 / 03:51 pm (CNA/EWTN News).- A leaked draft of a federal rule that would protect religious organizations from ... continue reading
by Catholic Online
- How a Catholic should deal with Tinder and other dating apps
- St. William of Vercelli: Saint of the Day for Sunday, June 25, 2017
- Daily Reading for Tuesday, June 27th, 2017 HD Video
- Daily Reading for Monday, June 26th, 2017 HD Video
- 'Half-Man-Half-Beast sent by the Devil' sparks fear in South African ...
- Daily Readings for Sunday, June 25, 2017
- The end of the farm as we know it has arrived - here's how we're ...
- Daily Reading for Sunday, June 25th, 2017 HD
- Pope Francis prepares an incredible gift of love and solidarity for South Sudan HD
- St. Emma HD
- Daily Reading for Saturday, June 24th, 2017 HD