A new study from the Small Business Administration’s Office of Advocacy concludes that annual regulatory costs jumped by nearly $600 billion between 2005 and 2008. Thanks to the Obama Administration’s big-government agenda, the burden of red tape today doubtlessly is much higher, but the 2008 estimate is enough to generate some very sobering numbers. A $1.75 trillion regulatory cost works out to be more than $15,500 for every household and more than $8,000 for every employee in the country. Red tape is especially challenging for smaller firms, as noted in these key findings from the summary:
The research finds that the total costs of federal regulations have further increased from the level established in the 2005 study, as have the costs per employee. More specifically, the total cost of federal regulations has increased to $1.75 trillion, while the updated cost per employee for firms with fewer than 20 employees is now $10,585 (a 36 percent difference between the costs incurred by small firms when compared with their larger counterparts).
To be sure, some forms of regulation, such as environmental protection, generate benefits. There generally are not good estimates needed to produce cost-benefit analyses, but it is quite likely that the costs are much higher than necessary – particularly for economic regulation, the burden of which is more than three times larger than the costs of environmental regulation.
[…] The economy-wide cost of regulation is now $1.75 trillion. […]
[…] The economy-wide cost of regulation is now $1.75 trillion. […]
[…] The economy-wide cost of regulation is now $1.75 trillion. […]
[…] The economy-wide cost of regulation reached $1.75 trillion in 2010. […]
[…] The economy-wide cost of regulation is now $1.75 trillion. […]
[…] The economy-wide cost of regulation is now $1.75 trillion. […]
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[…] Red tape is a huge burden on the American economy, with even an Obama Administration bureaucracy acknowledging that costs far exceed supposed benefits. […]
[…] links to his September 22, 2010 column reporting on the overall cost of over-regulation: “Strangling Entrepreneurship and Job Creation with $1.75 Trillion of Regulation and Red Tape” citing and quoting from a study from the Small Business Administration’s Office of […]
[…] The economy-wide cost of regulation is now $1.75 trillion. […]
[…] The economy-wide cost of regulation is now $1.75 trillion. […]
[…] The economy-wide cost of regulation is now $1.75 trillion. […]
[…] The economy-wide cost of regulation is now $1.75 trillion. […]
[…] The economy-wide cost of regulation is now $1.75 trillion. […]
[…] The economy-wide cost of regulation is now $1.75 trillion. […]
[…] The economy-wide cost of regulation is now $1.75 trillion. […]
[…] regulation and red tape? Is it better to focus on the overall burden by sharing data about aggregate cost, job losses, time wasted, and foregone […]
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[…] writing about the burden of regulation, I often share big numbers about aggregate cost, job losses, time wasted, and foregone […]
[…] writing about the burden of regulation, I often share big numbers about aggregate cost, job losses, time wasted, and foregone […]
[…] writing about the burden of regulation, I often share big numbers about aggregate cost, job losses, time wasted, and foregone […]
[…] The economy-wide cost of regulation is now $1.75 trillion. […]
[…] The economy-wide cost of regulation is now $1.75 trillion. […]
[…] at an alarming rate. Updating that scholar’s research to account for inflation and a more current estimate on the overall cost of regulations yields the conclusion that regulations are in fact the […]
[…] The economy-wide cost of regulation is now $1.75 trillion. […]
[…] The economy-wide cost of regulation is now $1.75 trillion. […]
[…] The economy-wide cost of regulation is now $1.75 trillion. […]
[…] The economy-wide cost of regulation is now $1.75 trillion. […]
[…] since I was talking about the staggering burden of red tape and regulation, I wasn’t being very supportive of the President’s assertion that government deserves a big […]
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[…] The economy-wide cost of regulation is now $1.75 trillion. […]
[…] The economy-wide cost of regulation is now $1.75 trillion. […]
[…] The economy-wide cost of regulation is now $1.75 trillion. […]
[…] a good description of our corrupt tax code. That’s a good description of America’s regulatory morass. That’s a good description of much of what government now […]
[…] since I was talking about the staggering burden of red tape and regulation, I wasn’t being very supportive of the President’s assertion that government deserves a big […]
[…] The economy-wide cost of regulation is now $1.75 trillion. […]
[…] The economy-wide cost of regulation is now $1.75 trillion. […]
[…] The economy-wide cost of regulation is now $1.75 trillion. […]
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[…] since I was talking about the staggering burden of red tape and regulation, I wasn’t being very supportive of the President’s assertion that government deserves a big […]
[…] since I was talking about the staggering burden of red tape and regulation, I wasn’t being very supportive of the President’s assertion that government deserves a […]
[…] The economy-wide cost of regulation is now $1.75 trillion. […]
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[…] The economy-wide cost of regulation is now $1.75 trillion. […]
[…] People who work on regulatory policy think their issue is most important, and you can understand why after perusing this report about the record $ 1.75 trillion yearly burden of red tape. […]
[…] People who work on regulatory policy think their issue is most important, and you can understand why after perusing this report about the record $1.75 trillion yearly burden of red tape. […]
[…] People who work on regulatory policy think their issue is most important, and you can understand why after perusing this report about the record $1.75 trillion yearly burden of red tape. […]
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[…] almost enough to make you think that regulation is a costly burden that hurts the […]
[…] almost enough to make you think that regulation is a costly burden that hurts the economy. GA_googleAddAttr("AdOpt", "1"); GA_googleAddAttr("Origin", "other"); […]
[…] year, I reported on a study from the Small Business Administration that estimated that federal regulation costs the economy a staggering $1.75 trillion every […]
[…] this regulation is measured in lost economic output, jobs not created, and mandated inefficiency. According to the Small Business Administration, that amounts to a whopping $1.75 trillion per […]
[…] insincerity, inaccuracy, and hypocrisy are unfortunate. The burden of regulation is now estimated to be about $1.75 trillion. Counterproductive red tape is hidden form of taxation that impedes the economy’s performance, […]
[…] insincerity, inaccuracy, and hypocrisy are unfortunate. The burden of regulation is now estimated to be about $1.75 trillion. Counterproductive red tape is hidden form of taxation that impedes the economy’s […]