Trump’s Push for Deregulation

American Thinker ^ | February 9, 2017 | Scott S. Powell

[Kaslin]

On day one President Trump surprised business leaders gathered at the White House, declaring U.S. regulations “out of control” and “in need of 75% or more reduction.” A week later, he boldly signed an executive order requiring repeal of two old rules for every new one that government agencies implement.

The fact is that cutting regulations is as critical as tax relief in turning the U.S. economy around. The two are the holy grail to repatriate a large part of the $2.5 trillion in offshore corporate capital, stimulate domestic investment and create jobs -- all central to “making America great again.” And it’s economic growth and broadening the tax base that can -- in the longer run -- finance rebuilding U.S. infrastructure and the military without adding to deficits and national debt.

The Federal Register records regulations imposed on business. Its annual pages generally grow with every administration, with a 19% year over year increase in Obama’s last year -- setting a record-breaking 95,000-plus pages. Professor Alan Dershowitz notes that, “today the average professional commits three felonies a day without realizing it, thanks to the complex layers of regulation and legal requirements that have been built up over time.” The Small Business Administration estimates the compliance costs of regulations may be upwards of $2 trillion a year -- an enormous hidden tax nearly six times greater than the aggregate $350 billion in corporate tax revenue collected annually by the IRS in recent years.

[allendale]

Forget the protests, the snowflakes, the Democratic hysterics and posturing. The Trump Administration will be successful if he is able to unleash productive capitalism from the restraints of government and regulation. The economy will then grow and real prosperity will return. The people, especially minorities, will realize the country is moving in the right direction. The rest is conversation.

[BitWielder1]

All regulations should be subject to periodic review.
Does it work as intended, does it have unfortunate side effects, are the actual results worth the cost, time and aggravation or should it be scrapped?