The Cost of Regulations

The Cost of Regulations | MyGovCost | Government Cost Calculator:

Mark Tapscott describes how one economist calculated the cost of regulations on American household consumers:

Wayne Crews of the Competitive Enterprise Institute provides a definitive answer to that question today with publication of the latest edition of his annual compilation, “10,000 Commandments: An annual snapshot of the federal regulatory state.”

Crews estimates the annual cost of compliance with the record number of new federal rules and regulations issued under President Obama at $1.863 trillion.

That works out to a $14,974 “hidden tax” every year for the average U.S. household. That’s 23 percent of the $65,596 annual average household income in America.