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Thursday, 1st April 2010

Red Tape Rising: Regulation in the Obama Era

Red Tape Rising: Regulation in the Obama Era
Source: The Heritage Foundation

Americans are endlessly paying taxes--on their income, on their property, on almost anything they purchase. But the heavy burden that the U.S. government places on its citizens does not stop there. It continues with a slew of hidden taxes imposed by an ever-larger number of government regulations. These regulatory taxes do not appear on any balance sheet, yet cost Americans about $1 trillion every year. The regulatory burden on Americans continued to surge during 2009, with record increases in costs thanks to both the Bush and Obama Administrations. Given ongoing regulatory initiatives at several agencies, it is very likely that this surge will continue. It is more important than ever that policymakers implement regulatory reforms, including stronger regulatory review procedures by an independent Congressional Regulation Office.


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