You need to pay more taxes, because....
The Regulatory State Goes Parabolic - 79K Pages Of New Rules; $1.9 Trillion Cost; Impact Per Family Exceeds Minimum Wage Job
The Competitive Enterprise Institute (CEI) has just released its annual report on the growth of the regulatory State in the US, entitled ’10,000 Commandments’ (the full report can be downloaded here, pdf). If only it were just ’10,000 commandments’! In reality, there are far, far more, and they are growing like weeds year-in, year-out.
A few statistical highlights from 2013:
...Combined with $3.454 trillion in federal spending, Washington’s share of the economy now reaches 31 percent.
...Costs for Americans to comply with federal regulations reached $1.863 trillion in 2013. That is more than the GDPs of Canada or Australia.
...This is the 21st edition of Ten Thousand Commandments. In that time, 87,282 final rules have been issued. That’s more than 3,500 per year or about nine per day.
...The “Unconstitutionality Index” is the ratio of regulations issued by agencies compared to legislation passed by Congress and signed into law by the president. The ratio stood at 51 for 2013. That means there were 72 new laws and 3,659 new rules – 51 rules for every law, or a new rule every 2 ½ hours.
...Regulatory costs amount to an average of $14,974 per household – 23 percent of the average household income of $65,596 and 29 percent of the expenditure budget of $51,442. This exceeds every item in the household budget except housing – more than health care, food, transportation, entertainment, apparel, services, and savings. Some 63 departments, agencies and commissions have regulations in the pipeline.
...The 2013 Federal Register contains 79,311 pages, the fourth highest ever. The top two all-time totals are 81,405 pages in 2010 and 81,247 in 2011, both under Obama.
...The top six federal rule making agencies account for 49.3 percent of all federal rules. In 2013, these were the Departments of the Treasury, Commerce, Interior, Health and Human Services, and Transportation and the Environmental Protection Agency.
...Small businesses pay more in per-employee regulatory costs. Firms with fewer than 20 employees pay an average of $10,585 per employee, compared to $7,755 for those with 500 or more employees.”
In short, the monetary costs of regulations as calculated by CEI above probably don’t even come close to representing the actual costs in terms of lost opportunities, knowledge that has never been gained, and consumer satisfactions that will never be attained as a consequence. The statement that regulatory costs devour 29% of all household income is sobering enough as it is, but it cannot possibly convey how much economic progress has already been forever lost due to regulations.
I sure hope people are getting their money's worth. It is probably "unemployment" though.