Small Business, Obama At Odds on Regulation

Last week brought more news that an avalanche of regulation from Big Brother is making entrepreneurs cry "uncle," but there's little reason to believe Washington is listening. Gallup has just reported that small business owners "are most likely to say complying with government regulations is the most important problem facing them" right now, topping consumer confidence in the economy and lack of consumer demand. Here's a metric of pain to explain what's facing these entrepreneurs as they try to live the American dream under an increasingly regulated regime: there are now more than 80,000 pages of federal rules and regulations (at an annual national cost of $1.75 trillion), as well as more than 70,000 pages in the federal tax code. Several credible research groups show that the cost of regulatory compliance now averages about $10,500 per employee and it continues to rise. So a would-be entrepreneur now faces about 150,000 pages of legalese even before the doors open. At a rate of...(Read Full Post)