Economy & Regulations
The fundamental purpose of government is to protect each person’s liberty. Government bureaucrats should not decide how you or I spend our time and money.
Today’s businesses are heavily burdened with thousands of pages of unnecessary and excessive government regulations.
Regulations function as a hidden tax on individuals in the form of higher prices and fewer goods and services available. The federal government’s own Small Business Administration even admits that this hidden tax is around $1.75 trillion per year.
When government uses central planning to promote certain activities and sectors of the economy—whether through Federal Reserve policies or targeted economic incentives—it destroys the value of our dollar and causes prices to skyrocket.
This causes more pain and unemployment than otherwise would have existed without any government meddling.
Central planning hurts nearly all businesses and individuals, especially the poor, while benefiting those special interests that can afford to lobby for their favored outcomes.
Expansive regulations generally benefit a few large corporations and punish thousands of small businesses that don’t have the resources to comply. With competition restrained, consumers can expect fewer choices, higher prices, and lower-quality services.
Government can best help the economy by making regulations predictable and uncomplicated, simplifying the tax code, and letting businesses stand or fail on their own merit.