11 Ways the Government is Making you Poorer
Regulations – According to a new study, regulations have cut US economic growth by 2 percentage points a year over the last six decades! As a result the average US household now receives about $227,000 less than they would have minus six decades of regulatory costs. Remember that when government is blaming the private sector for our financial woes. Without six decades of increasing regulation, the median US household income would be $330,000 a year compared to the $53,000 we see now. Regulations add cost to every economic action. Slowly these costs add up. While everyone wants industries clean and safe, many of these regulations are overly complex, require huge bureaucracies to manage, and are unnecessary. Imagine how much better this economy would be if the median household income was increased by nearly 600%.
