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 2018 - Distributed by THE CALIFORNIA NETWORK
Pope Francis Prayer Intentions for FEBRUARY 2018
Say 'No' to Corruption. That those who have material, political or spiritual power may resist any lure of corruption.
After the Senate failed to pass a bipartisan bill that would offer protections for immigrants, U.S. bishops noted their disappointment and ... continue reading
Americans are overwhelmingly approving of President Trump's second State of the Union address. The speech has been given a 75 percent ... continue reading
Controversial memo that exposes government abuses to be released - Speaker Ryan calls for FBI cleanup Watch
House Republicans have voted to release a controversial memo that describes government abuse of surveillance powers. The information is so ... continue reading
The government shutdown continues, but bombs still drop, surveillance continues, and Congress still gets paid. Here's why they get a check and you don't Watch
The government spends over $10 billion dollars per day on everything it does. It stands to reason that each day the government is shut down ... continue reading
US President Donald Trump issued a proclamation declaring Jan. 16, 2018, as "religious freedom day." This date was chosen as it is the ... continue reading
by Catholic Online
- Daily Reading for Saturday, February 24th, 2018 HD Video
- Lenten fish recipes: Economical and delicious!
- 'Living Lent': Friday of the First Week of Lent - Day 10
- Daily Readings for Friday, February 23, 2018
- The Tragic Reason Mass Shootings Happen, and it's NOT the guns HD Video
- St. Polycarp: Saint of the Day for Friday, February 23, 2018
- 10 emotional prayers for healing and hope in a world of tragedy
- Spiritual Warfare and the Help of Angels HD
- St. Lawrence, Deacon and Martyr HD
- Daily Reading for Friday, February 23rd, 2018 HD
- AmericaĂ˘Â€Â™s pastor, Billy Graham passes away, age 99 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