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 (4 years ago)
Catholic Online (https://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 2018 - Distributed by THE CALIFORNIA NETWORK
Pope Francis Prayer Intentions for APRIL 2018
For those who have Responsibility in Economic Matters. That economists may have the courage to reject any economy of exclusion and know how to open new paths.
A bill in the California legislature intended to ban gay conversion therapy is also worded so that it could be used to ban books such as ... continue reading
Rep. Jeff Fortenberry (R-NE) is not shy about his Catholic faith. He holds a master's degree in theology from Franciscan University of ... continue reading
Facebook founder and CEO Mark Zuckerberg faced two days of tough questions from both the Senate and the House. It is possible that Facebook ... continue reading
Caltech says their early warning system worked well during the 5.3 magnitude quake which shook the Southern California coast on Thursday. ... continue reading
Another victory for religious liberty! Catholic employers win injunction against Obama contraception edict Watch
A federal judge ruled in favor of the Catholic Benefits Association last week, issuing a permanent injunction and declaratory relief ... continue reading
by Catholic Online
- Five things Catholics can do to promote international religious freedom
- California bill that could BAN THE BIBLE advances
- Daily Readings for Saturday, April 21, 2018
- Daily Reading for Sunday, April 22nd, 2018 HD Video
- Has California just voted to ban the BIBLE? HD Video
- Death threats for opposing gay marriage? Florist appeals to Supreme Court
- St. Anselm: Saint of the Day for Saturday, April 21, 2018
- Global Warming threatening Europe with colder weather HD
- The Memorare HD
- God Alone Suffices HD
- Daily Reading for Saturday, April 21st, 2018 HD
Learn about Catholic world
Inform - Inspire - Ignite
Catholic Online Saints
Your saints explained
Catholic Online Prayers
Prayers for every need
Catholic Online Bible
Complete bible online
Catholic Online News
Your news Catholic eye
Today's bible reading
Products and services we offer
Catholic Online Shopping
Catholic medals, gifts & books
The California Network
Inspiring streaming service
Learn the Catholic way
Teacher lesson plans & resources
Support Free Education
Tax deductible support Free education