Government over-regulation has an effect similar to over-taxation. While some regulations are necessary, federal regulation is now entirely out of control. Over-regulation is stifling economic freedom and destroying American jobs and prosperity.
Federal regulation has reached a level where it is definitely unconstitutional. Federal agencies have assumed powers over the American people that go far beyond anything justified in our Constitution or justifiable in a country based upon individual liberty.
The U.S. Congress has the power to roll back this over-regulation and destruction of our liberty by bureaucrats in federal agencies because Congress controls the funding of these agencies.
There is much discussion about the merits of lowering taxes vs. raising taxes. Conservatives point out that lowering taxes will help the economy. Others, while acknowledging this, contend that the federal budget cannot be balanced without raising taxes.
Then both groups debate the role of “entitlements” and begin to discuss cuts in Social Security – a frightening prospect to 50 million senior citizens.
Yet, there is a major step that can be taken that should satisfy everyone and make great progress toward balancing the budget with no danger to Social Security.
Lowering the regulatory tax – the terrible burden of complying with endless unnecessary regulations issued by government bureaucrats serves both purposes. This would help the economy by reducing business costs and simultaneously help balance the budget by eliminating the cost of paying millions of counterproductive bureaucrats.
Reduction of federal government regulations to common sense levels would be the greatest effective tax cut in American history, and it would not cost the American taxpayers one cent. In fact, it would save hundreds of billions of federal tax dollars.
Free people produce more than they consume and prosperity rises - as it did in the United States before we permitted government over-taxation and over-regulation to restrict our freedom. Americans, on average, now consume more than they produce as a result of governmental oppression, so American prosperity is falling.
While taxation is a matter of heated debate, surely most people of common sense can agree on the issue of regulation. Why should we use our over-stretched tax dollars to pay an army of bureaucrats who are regulating away our liberty?
Large cuts in the budgets of the regulatory agencies would do wonders for the American economy and for American freedom.