The annual cost of regulations to YOU:
Bottom Line: Business people know how much regulations cost business. That's generally where the conversation stops with regard to it's impact however. That's why an opaque vision of what its actual impact on you is all that's every offered up. As a result the average American, which struggles with financial literacy already (not meant to offend - simply a fact), can't really be expected to understand that over-regulation has an impact on them when they buy stuff. That's why the latest research on the cost of regulation is especially instructive. It isn't about the cost of regulation on business. It's about the annual cost of that regulation to you. And it's almost certain to surprise.
According to the latest research from the Federal Register, the cost of regulation on the average American household is...$1000?, $5000?!, $10,000?!!
It's actually $15,000!!!
That's more than the average household spends on food during the typical year and is about equitable with the cost of housing. So let's have a clear understanding of just how over-regulated our economy is...The single biggest expense for the average household is regulation. Something tells me that's not how most people would answer but it's clearly important they know. Ignorance isn't bliss - it's expensive.