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A Red Tape Tower - Over 20,000 Pages Of Obamacare Regulations
A Red Tape Tower - Over 20,000 Pages Of Obamacare Regulations - Bob Beauprez - Townhall Finance Conservative Columnists and Financial Commentary
Regulating Small Businesses Out of Business
By Blanche Lincoln former Democratic senator from Arkansas, National Chair, Small Businesses for Sensible Regulations
Over the past five years, the number of proposed major regulations those costing $100 million or more to the economy have increased by more than 60 percent. Today, there are over 160,000 pages of federal regulations on the books, and more than 4,200 new rules are awaiting approval.
Over 800 of those pending would directly affect small businesses.
What's the Sum Effect of EPA Rules? - Energy and Environment Experts
While various financial regulatory agencies are far from done generating all the regulations that the law requires, the total time needed to comply with the regulations already issued eclipses 50 million hours, much of which the government has not bothered to monetize.
Now even the Federal government keeps track through The Office of Information and Regulatory Affairs (OIRA) calculates that the federal government currently imposes more than 10.3 billion hours of paperwork compliance annually. To put that number in perspective, New York could build more than 1,400 Empire State Buildings in the equivalent amount of time.
Calculating the monetized cost for those hours of paperwork is a bit dicey, however. OIRA estimates that the associated cost of compliance for those 10.3 billion hours comes to $77.2 billion, which means that the government believes an individuals time is worth $7.45 per hour. That is less than the minimum wage in Washington, D.C.
What Does an Hour of Regulatory Compliance Cost? | American Action Forum
But the cost then is even more then $77.2 billion if figured at $7.45 per hour because employers' share of SS/Medicare adds another 7.65% or at $8.01 per hour
that works out to another $5.4 billion or $82.6 billion a year JUST for the cost of paperwork.
So think of what it will be with Obamacare and EPA adding thousands of more in rules and regulations!
AND REMEMBER this is just the Federal government.
Add on State/local rules and regulations...
WE ARE DROWNING IN RULES AND REGULATIONS!!!
It costs business and industry an estimated $1.75 trillion a year to comply with federal regulations, according to two economists whose work was commissioned last year by the Small Business Administration.
The proposed regulatory rollbacks unveiled late last week by the White House appear to total just over $1 billion in annual cost savings.
Read more at Crazy Federal Rules Cost Business $1.75T a Year
A Red Tape Tower - Over 20,000 Pages Of Obamacare Regulations - Bob Beauprez - Townhall Finance Conservative Columnists and Financial Commentary
Regulating Small Businesses Out of Business
By Blanche Lincoln former Democratic senator from Arkansas, National Chair, Small Businesses for Sensible Regulations
Over the past five years, the number of proposed major regulations those costing $100 million or more to the economy have increased by more than 60 percent. Today, there are over 160,000 pages of federal regulations on the books, and more than 4,200 new rules are awaiting approval.
Over 800 of those pending would directly affect small businesses.
What's the Sum Effect of EPA Rules? - Energy and Environment Experts
While various financial regulatory agencies are far from done generating all the regulations that the law requires, the total time needed to comply with the regulations already issued eclipses 50 million hours, much of which the government has not bothered to monetize.
Now even the Federal government keeps track through The Office of Information and Regulatory Affairs (OIRA) calculates that the federal government currently imposes more than 10.3 billion hours of paperwork compliance annually. To put that number in perspective, New York could build more than 1,400 Empire State Buildings in the equivalent amount of time.
Calculating the monetized cost for those hours of paperwork is a bit dicey, however. OIRA estimates that the associated cost of compliance for those 10.3 billion hours comes to $77.2 billion, which means that the government believes an individuals time is worth $7.45 per hour. That is less than the minimum wage in Washington, D.C.
What Does an Hour of Regulatory Compliance Cost? | American Action Forum
But the cost then is even more then $77.2 billion if figured at $7.45 per hour because employers' share of SS/Medicare adds another 7.65% or at $8.01 per hour
that works out to another $5.4 billion or $82.6 billion a year JUST for the cost of paperwork.
So think of what it will be with Obamacare and EPA adding thousands of more in rules and regulations!
AND REMEMBER this is just the Federal government.
Add on State/local rules and regulations...
WE ARE DROWNING IN RULES AND REGULATIONS!!!
It costs business and industry an estimated $1.75 trillion a year to comply with federal regulations, according to two economists whose work was commissioned last year by the Small Business Administration.
The proposed regulatory rollbacks unveiled late last week by the White House appear to total just over $1 billion in annual cost savings.
Read more at Crazy Federal Rules Cost Business $1.75T a Year