A $1.2 trillion freight train of regulation is coming that will wipe out small business, cost you thousands of dollars, and break everything from air conditioners and furnaces to gas ovens.
— Peter St Onge, Ph.D. (@profstonge) June 25, 2024
Biden’s handlers are on track to exceed even the famously destructive Obama in… pic.twitter.com/2HnhNdF6OQ
A speeding freight train of regulations is coming that will gut small businesses while climate mandates make pretty much everything that plugs in suck. A new study by the Job Creators Network estimates that 1.2 trillion dollars in new regulations are about to hit Americans courtesy of Joe Biden; that would be on top of the estimated 1.9 trillion dollars we already lose to regulations. Per household, that comes to $10,000 in new regulations on top of the $15,000 in regulations we already pay every year. Put differently, 20 cents on the dollar you earn got snagged by regulatory costs; you never saw it. Taxes are on top of that. The new rules run the gamut from emissions to staffing and diversity to reporting requirements for global warming. There are manufacturing restrictions on pretty much everything in your house. So dishwashers, water heaters, ceiling fans, light bulbs, gas stoves, washing machines, and, of course, air conditioners. One study by the Alliance for Consumers estimates the new rules will increase the cost of a washing machine by $200, a furnace by $500, and the cost of refilling your air conditioner by over $1,000; they could push some products, like gas stoves, out of existence altogether. Now all of that is on top of existing regulations that already pushed all these things up by thousands. For example, one study by Cambridge University found that regulations have added between $6,000 and $7,000 to the cost of a car and have wiped out cheaper models altogether. Of course, none of that is a problem for the 1%. They will still drive Bentleys and crank the heat up in winter, and it's a positive bonanza for the huge companies whose donations bought all of those lovely regulations. As for the rest of us, wear another sweater and take the bus. Beyond the crap products, this flood of regulations is driving tens of thousands of factories and businesses overseas. To illustrate, the National Association of Manufacturers estimates that it currently costs $30,000 in Regulatory Compliance alone for every manufacturing worker. For small manufacturers, the mom-and-pop, that actually comes to $50,000 in regulatory costs. They can't spread it out over as many workers, so that is literally more than the salary and that goes to Regulatory Compliance alone. Upcoming rules are targeting precisely these small businesses, most notoriously on climate disclosure, climate change procurement, basically locking small companies out of selling to the federal government, and a "transparency rule on climate that would hit 11 million small firms with nearly 100 billion dollars in fresh costs." Many of course will just give up and close shop. The rules are part of 5,300 rules imposed since Obama. Trump had briefly reversed the tide. Remember he took out two regulations for every new one but Joe Biden's handlers have doubled down even out doing the famously destructive Obama in terms of job-crushing regulations that make everything you buy suck. There is a rate of hope in an upcoming Supreme Court decision, called Loper V Raimondo, brought by a fishing boat that was forced to pay $700 a day for regulator ride-alongs. If the decision comes in favor of the Fishers, it could dramatically rein in the federal rule Leviathan, obliging major rules to actually go through Congress instead of auto-spawning in the Deep State. If not, the regulatory strangle will continue trillion by trillion until your jobs in China you furnished are just for show and you need a mortgage to buy a car made of tin cans.
