Accounting, Budget, Capitalism, Corporate tax, Corporation, Cronyism, Free Market, Income tax, Regulation, Restrictions, Richard Mourdock, Tax, Tax rate, Taxation, U.S. Government, United States, United States Senate
Richard Mourdock, GOP candidate for Senator, says government overregulation is CRIPPLING major sectors of our economy, from energy to health care.
Bill Buckler, author of The Privateer, agrees with Richard Mourdock. In an article for Zerohedge, a website credited with bringing the controversial practice of flash trading to public attention in 2009, Buckler writes that the cost of government regulation is a staggering $1.75 TRILLION per year!
The Competitive Enterprise Institute (CEI), a small “think tank” in Washington
DC, puts out an annual report called: Ten Thousand Commandments” The report deals with the regulatory agencies of the US federal government and
the cost of the regulations they continually introduce – and enforce. This
report would be typical of the regulatory function of pretty well every
government in the world.
In their Ten Thousand Commandments 2012 report which was released in June, the CEI estimates the cost of US government regulation at $US 1.75 TRILLION. That is just under half (48 percent) of the budget of the federal government. It is almost ten times the total of all corporate taxes collected and almost double the total collected from individual income taxes. It is also one-third higher than the total of all pre-tax corporate profits. It is the hidden cost of doing business in an interventionist economy.
The fact that the cost of complying with these regulations is substantially higher than the total of corporate profits is a stark illustration of the end result of economic intervention. That end result is CAPITAL CONSUMPTION.
More from Bill Buckler here HERE
“Ten Thousand Commandments” is a MUST read.
- The Cost Of “Intervention” (illinoisreview.typepad.com)
- Obama’s Regulation Con (americanthinker.com)
- House GOP Regulatory Reform Bill: new regulations are suspended until unemployment reaches 94 percent ? (jobmarketmonitor.com)
- Obama vs. Job Creation (johnmalcolm.me)
- DEBT PARTY USA – 5 Straight Years Of $1 Trillion Deficits! (dailybail.com)