“This is a gigantic tax on the American economy — almost like a second income tax — sapping us of strength.”
In my opinion regulations are far WORSE than a second income tax. They require businesses to spend huge sums to comply with regulations that accomplish nothing other than to increase costs. At least a second income tax would possibly raise some money that could be used to accomplish some minor benefit.
It’s not just the feds who do this. The states do it too. Look at a list of all the agencies in your state. Each one is passing regulations.
Between the feds and the states it never ends.
I agree.
The other thing that is worse than the tax itself is the tax code. This also requires businesses and individuals to spend excessive money and TIME in order to comply. Anything that wastes time is preventing people and businesses from making money (and is infringing on the pursuit of happiness).