“American business unchained.” So goes that mantra from business-minded leaders everywhere in response to the Trump economic surge now taking place. From coast to coast the American Middle Class is feeling better. Not quite great yet, but definitely better and much of it has to do with President Trump’s ongoing war to push back the suffocating layers of federal regulations that have been choking off job production and stagnating wages for much too long. These regulations cost U.S. business and consumers nearly TWO TRILLION dollars.
Reducing government regulation is tough. It’s resisted by all those who benefit, including government employees who administer the many programs. Every president since Jimmy Carter has attempted to lower the cost of regulation. At best, any cuts have been tiny and mostly centered on trimming paperwork. But less regulation is one campaign promise made by Donald Trump that is coming true. With tax and health-care reform problematic and given the president’s protectionist leanings, deregulation is probably a major driver of the stock market rally.
The Competitive Enterprise Institute last year found regulation cost American businesses $1.9 trillion, dwarfing the $344 billion in corporate taxes. About 56 percent of CEOs see overregulation as a major threat to their organization, more than cybersecurity (50 percent), rising taxes (41 percent) or even protectionism (27 percent).
…Using the 1996 Congressional Review Act, Congress and the president have repealed 14 of Obama’s final regulations. About 29 of Trump’s executive orders and White House directives have reduced regulations, executive branch agencies have issued additional deregulation directives, and Congress is considering 50 more.
And it appears Mr. Trump is just getting started – and that’s GOOD for the American people because guess what? We really don’t need government nearly as much as so many are falsely led to believe. The more government dies the more the people LIVE.