As we all await President Obama’s new plan, which will be the same as the old plan, in tomorrow night’s speech to a joint session of Congress, it would behoove us to take a few minutes to watch the video below from the Cato Institute.
There are some truly stunning, and truly disgusting, figures presented in that short video. The one that disgust me the most is the fact that 14% of our nation’s GDP is spent on regulatory compliance. A burden that is put mostly on the backs of those who create the most jobs in America, namely small businesses.
Cato advises three measures to help correct this problem and get job creators once again creating jobs.
1. Cut Spending by 20%
2. No Further Tax Increases
3. Freeze All New Regulations [until they have gone through a full cost/benefit analysis.]
Count me as on the side of those looking to create wealth rather than those looking to create busy work for a bunch of union shops bitterly clinging to their spoons*.
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