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Estimating the total benefits and costs of federal regulations - asOMB is required to do in this report - is no easy task. Regulatoryaccounting is still an evolving, and as yet imperfect, discipline.Yet, there are some changes that could usefully be made to providea clearer and more complete picture of the impact of regulation. ....
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However, they don’t, and we’re not. Wages and incomes grow when the demand for labor grows. The demand for labor grows when the rewards for starting and expanding businesses grow. In America, however, we’ve been running the growth machine on rewind. Higher taxes and more regulations penalize expansion and start-ups. The costs are passed on to workers in the form of fewer jobs and lower wages. In “Red Tape Rising,” my colleagues James Gattuso and Diane Katz document the phenomenal growth and cost of regulation. For instance, between 2001 and 2015 the federal government added nearly 50,000 new rules to the books. Economists Mark and Nicole Crain estimated that the annual cost of regulations was $2 trillion in 2012 more money than was collected in federal income taxes that year. ....
Toggle open close This key research from 1993 has been updated in James Gattuso s new paper Back to Muzak? Congress and the Un-Fairness Doctrine http://www.heritage.org/Research/regulation/wm1472.cfm Legislation currently is before Congress that would reinstate a federal communications policy known as the fairness doctrine. The legislation, entitled the Fairness in Broadcasting Act of 1993, is sponsored in the Senate (S. 333) by Ernest Hollings, the South Carolina Democrat, and in the House (H.R. 1985) by Bill Hefner, the North Carolina Democrat. It would codify a 1949 Federal Communications Commission (FCC) regulation that once required broadcasters to afford reasonable opportunity for the discussion ....