Donald Trump says 70% of federal regulations could go - Full story
"US Republican presidential candidate Donald Trump has said he could cut as many as 70% of federal US regulations if he is elected.
Mr Trump, who was speaking at an event in New Hampshire, blamed regulations for stifling business but said rules on safety and the environment could stay."
Thoughts? Do you think he will stick to his word? Is this a good or bad thing?
thats too much in my opinion
Based on what?
70% of regulations. Dont you think its too much. Regulations are needed to regulate activites and keep things in line. its like removing 70% of laws for citizens
No. First off, you need to understand that the vast majority of regulations inherently benefit the large corporation, at the expense of the smaller companies and business.
They are a *benefit* to large corporations. Not because of some magical corruption, of back room deals, or some special lobby group or anything.
It's not because "the wealthy own the government".
None of that. Regulation by it's very nature... inherently.... benefits the wealthy.
How? Well regulations cost money to meet. Say I have a mega corp manufacturing plant, and you have a tiny startup manufacturing plant, and the government lays down some new regulations that cost a manufacturing company a Million dollars a year to meet.
I have a mega corp. I have billions. I can meet those regulations.
You, have a startup company, with a few hundred thousand at best. You are out of business. Which means that I have less competition (so I can raise my prices), and I have more customers (because those that went to you, now come to me).
So you, and your employees are all out of jobs, and I'm buying a new yacht.
You doubt that? Here's proof.
http://www.nam.org/Data-and-Reports...ions/Federal-Regulation-Executive-Summary.pdf
Now you can read through it if you want some more details, but basically the cost per employee of just Federal Regulations, not state and local regulations.... is over $13,000 for large companies, and almost three times that for small manufacturers.
And the same basic concept is true of all business. This specific report focused on the cost to manufacturers, because this was the National Association of Manufacturers.
But they included all small business regulations as well. It's true everywhere.
Now there are two things you need to grasp from this. Clearly the small business is, as I just said, inherently hammered harder by regulations.
But also, all business, from the smallest to the largest, is paying their people less wages because of regulations. Even the largest manufacturers, are paying out $13,000+ per person, per year, in costs to meet Federal Regulations. That's money they can't spend creating new jobs, or paying higher wages.
If people knew how much money in wages they were NOT being paid, to meet Federal regulations, they would be screaming that 70% cut in regulations isn't high enough.
But it's hard for a democracy, where the rule of the ignorant runs the country, to understand these concepts.