Posted on 03/02/2017 4:06:51 AM PST by IBD editorial writer
Economy: One part of President Trump's address to Congress that deserves more attention than it got was his discussion of federal regulations. The growing and largely unaccountable regulatory state is the biggest problem the economy faces today. Reining it in will take true grit and determination.
In his speech, Trump announced that he has "undertaken a historic effort to massively reduce job-crushing regulations, creating a deregulation task force inside of every government agency. And we're imposing a new rule which mandates that for every one new regulation, two old regulations must be eliminated."
This is welcome news for anyone who cares about economic growth, and helps explain the outburst of optimism in the business community and among investors. Various surveys show that regulations are the top concern among business owners, and the avalanche of complex, arcane rules from a multitude of federal agencies — to say nothing of state and local regulations — is making it increasingly difficult to start, operate and grow a company.
The problem is that presidents — both Republican and Democratic — have for decades pledged to roll back, streamline and get rid of outdated or overly cumbersome regulations, only to largely fail in the end.
(Excerpt) Read more at investors.com ...
Can Congress take regulatory authority away from regulatory agencies? Might be worth a shot.
A bill is introduced to regulate “Clean Air” that EPA would normally issue. The bill is debated, voted and sent to the President for his signature. If he signs it, it becomes law. Otherwise, no regulation.
In my real estate career I have suggested that landowners considering selling first drain away and fill in any damp spot and kill or relocate any living thing they find. That mud puddle, Lady's Slipper plant or turtle can render your property unbuildable if the bureaucrats get wind of it.
Not in writing, though.
“Same rule needs to apply to Congress - kill 2 laws for every new one you pass........”
I suggested this to friends long, long ago. When I read that Trump said before the election that he would require that anyone who wanted a new regulation must submit two regulations to be ended my opinion of him rose immensely, that was when I began to understand how badly I had underestimated him. Prior to that he had my vote by default since there was no way I could vote for Hillary but afterward I began to see some positive reasons to vote for him.
The article mentions that his greatest opposition to deregulation will come from the very businesses saddled by regulation which seems counterintuitive but Ayn Rand explained all this many decades ago. Once regulations are in place they are seen as a way to keep small fry competition from springing up. A truly free market is NOT the greatest thing imaginable to a company the size of General Electric, for one instance.
In my opinion, one of the worst if not THE worst effects of the profusion of new laws and regulations has been that it has become impossible for any American citizen to be a truly “law abiding” citizen. Some, including some on FR, do not understand that statement but it actually is impossible to obey the law in this country, no matter how you may struggle to do so. In many cases you literally cannot obey one law for breaking another.
Right on........
Yes, yes, definitely, every time I pass a new one I kill two old ones, beers that is, yes, definitely beers. Or maybe it was bears.
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