Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

4/17/2014 (3 months ago)

Catholic Online (www.catholic.org)

In exchange for $1.9 trillion secret tax on economy, you get -- nothing.

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.

Government regulation is a stealth tax on the economy costing $1.9 trillion annually.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

4/17/2014 (3 months ago)

Published in Politics & Policy

Keywords: Obama, secret tax, regulations, compliance


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.

---


Pope Francis: end world hunger through 'Prayer and Action'


2014 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for July 2014
Sports:
That sports may always be occasions of human fraternity and growth.
Lay Missionaries: That the Holy Spirit may support the work of the laity who proclaim the Gospel in the poorest countries.



Comments


More Politics & Policy

U.S. Bishops say Obama's executive order 'implements discrimination' Watch

Image of Archbishop William E. Lori of Baltimore, pictured, and Bishop Richard J. Malone of Buffalo in a statement noted that the executive order, which will impact a fifth of the U.S. workforce, discriminates against faithful Catholics.

By Catholic Online (NEWS CONSORTIUM)

A new order by U.S. President Obama that forbids federal contractors from discriminating "on the basis of sexual orientation and gender identity," has been denounced by U.S. bishops as "unprecedented and extreme and should be opposed" and, in effect, ... continue reading


Israel harshly critical of U.S. Secretary of State John Kerry, called 'an Alien' Watch

Image of U.S. Secretary of State John Kerry's apparent decision to use Qatar as a conduit through which to communicate with Hamas, effectively ditching an earlier Egyptian proposal which the group had rejected has stirred the pot.

By Catholic Online (NEWS CONSORTIUM)

The United States and Israel have been the staunchest of allies since Israel reached statehood following World War II - but this doesn't mean that the nations have always seen eye-to-eye. Indeed, the right-wing faction of the Israeli government are harshly ... continue reading


President Obama is 'mailing it in', bought the farm - spending lots of time golfing and goofing off Watch

Image of

By Catholic Online (NEWS CONSORTIUM)

Lackadaisical. That word is used to define "lacking enthusiasm and determination; carelessly lazy." Lackadaisical appears to described U.S. President Barack Obama as of late. The president is pending an awful lot of time playing golf while the nation and the ... continue reading


In President Obama's war on religious freedom the people suffer another loss Watch

Image of A July 21 executive order has dealt a huge blow to the cause of freedom of religion in the United States.

By Catholic Online (NEWS CONSORTIUM)

President Barack Obama's July 21 executive order prohibiting discrimination based on sexual-self-identification has lead to strong criticism from several prominent U.S. bishops, calling the executive order "unprecedented and extreme." LOS ANGELES, CA (Catholic ... continue reading


Efforts against female genital mutilation could be thwarted by population growth Watch

Image of Due partly to community activism and legislation, the prevalence of FGM, which involves the cutting away of the external female genitalia, and the marriage of girls under the age of 18 has decreased slightly over the last 30 years, UNICEF said.

By Lisa Anderson, Thomson Reuters Foundation

Advances in fighting female genital mutilation, or FGM and child marriage could be offset by population growth unless the rate of progress increases, according to new data released Tuesday by the United Nations Children's Fund (UNICEF). (Thomson Reuters ... continue reading


FREE SPEECH VIOLATED: Tea party groups' lawsuit against IRS proceeds Watch

Image of Among the individuals named in the lawsuit is Lois Lerner, who headed the division that processes applications for tax-exempt status at that time.

By Catholic Online (NEWS CONSORTIUM)

They're not going to take it - and they're taking their claims to court. A federal judge has allowed a lawsuit by 10 tea party groups to move forward against the Internal Revenue Service. The judge rejected a request by the federal government to dismiss all the ... continue reading


'Suing the president is the right path to go down here,' Boehner declares Watch

Image of

By Catholic Online (NEWS CONSORTIUM)

The House of Representatives has no plans to use its own constitutional authority to withhold funding from actions by President Obama. House Speaker John Boehner (R-Ohio) indicated that if the president takes actions that exceed his constitutional authority, ... continue reading


Federal government says state death penalties are 'unconstitutional' Watch

Image of A federal judge has called California's death penalty unconstitutional. Surprisingly though, this judge is a conservative republican, a party that has long opposed federal overreach into state rights.

By Catholic Online (NEWS CONSORTIUM)

A federal judge ruled that California's death penalty is unconstitutional on July 16, claiming that the state's system is arbitrary, unfair, and cruel and unusual because of a lengthy process that leaves prisoners in the dark about their actual death row status. ... continue reading


'American people have a right to know,' Issa proclaims Watch

Image of Darrel Issa says that Simas' testimony was

By Catholic Online (NEWS CONSORTIUM)

Oversight Committee Chairman Darrell Issa of California said administration claims that White House political director David Simas was immune from testimony were "absurd" and "deeply disturbing." Defying a subpoena, Issa has now set up a new high-profile fight ... continue reading


Cheat on your taxes? It just got a lot easier Watch

Image of If you still fear a knock at your door anytime soon, it must be noted that one's chances of getting audited vary greatly and are based on income.

By Catholic Online (NEWS CONSORTIUM)

If you cheat on your taxes - or senselessly worry that some indiscretion in your recent past will have the Internal Revenue Service shortly breathing down your neck - things just got a little bit brighter. The GOP-controlled House has voted to slash the budget ... continue reading


All Politics & Policy News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Daily Readings

Reading 1, Jeremiah 13:1-11
1 Yahweh said this to me, 'Go and buy a linen ... Read More

Psalm, Deuteronomy 32:18-19, 20, 21
18 (You forget the Rock who fathered you, the God who ... Read More

Gospel, Matthew 13:31-35
31 He put another parable before them, 'The kingdom ... Read More

Saint of the Day

Saint of the Day for July 28th, 2014 Image

St. Innocent I
July 28: Innocent was born at Albano, Italy. He became Pope, succeeding ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter