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NO NEW TAXES - - Republicans Better Remember That....
Interesting to read the comments on Tariffs, if only people were smart enough to know they are are getting fleeced in another way.
Cost Of Regulatory Burdens Reached Staggering Levels In 2024, Report Says
Ireland Owens
Federal regulations added an estimated total cost of a whopping $2.155 trillion for Americans in 2024, according to a report from the Competitive Enterprise Institute (CEI) released Thursday.
The large amount, which includes the calculated impact of federal regulations as well as compliance costs, results in a “hidden tax” of $16,016 per American household each year, CEI’s annual “Ten Thousand Commandments” report found. This “hidden” regulatory tax consumes 16% of household income and 21% of household expenses, according to the report
Ultimately, consumers bear the costs of government regulations, according to numerous sources and the National Association of Manufacturers. Businesses are legally obligated to comply with regulations, and these costs can include modifications to processes, new systems, training, auditing, and reporting. To maintain profitability, businesses often pass these costs on to consumers through higher prices for goods and services. The Regulatory Transparency Project reports that the costs of regulation, including higher prices and reduced availability of goods and services, ultimately impact real people.
Cost Of Regulatory Burdens Reached Staggering Levels In 2024, Report Says
Ireland Owens
Federal regulations added an estimated total cost of a whopping $2.155 trillion for Americans in 2024, according to a report from the Competitive Enterprise Institute (CEI) released Thursday.
The large amount, which includes the calculated impact of federal regulations as well as compliance costs, results in a “hidden tax” of $16,016 per American household each year, CEI’s annual “Ten Thousand Commandments” report found. This “hidden” regulatory tax consumes 16% of household income and 21% of household expenses, according to the report
Ultimately, consumers bear the costs of government regulations, according to numerous sources and the National Association of Manufacturers. Businesses are legally obligated to comply with regulations, and these costs can include modifications to processes, new systems, training, auditing, and reporting. To maintain profitability, businesses often pass these costs on to consumers through higher prices for goods and services. The Regulatory Transparency Project reports that the costs of regulation, including higher prices and reduced availability of goods and services, ultimately impact real people.