Regulations Dramatically Reduce Job Creation in Our Country
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Our business leaders do so much to help establish a high-quality American existence, yet they are often restricted by excessive regulations. It is undeniable that some regulations stifle business growth and deter potential entrepreneurs from pursuing dreams that will create jobs for Americans. Common-sense regulations are necessary to establish ground rules for business, but many overstep their bounds. Unfortunately, some government regulations make it almost impossible for small businesses and entrepreneurs to pursue life changing ideas that increase job opportunity in this country.
According to an article, by John Allison and Sen. Ron Johnson, in Politico:
At the federal level alone, business is subject to tens of thousands of regulations. The federal regulation code, which lists them, currently stands at 160,000 pages. Over the past 15 years, business has been hit with almost 60,000 new federal rules, to say nothing of state-level regulation. Compliance costs alone surpass $1.75 trillion annually, according to the Small Business Administration.
This explosion of new regulations dramatically reduces job creation. The more costly it is for businesses to meet regulatory demands, the fewer workers they can hire. When government ramps up regulations in unpredictable ways — see Obamacare, Dodd-Frank Wall Street regulations and the Environmental Protection Agency under Lisa Jackson — businesses are more likely to build cash reserves than they are to invest and hire.
Read the article in its entirety here.