Friday, November 13, 2009

Over-regulated and over-taxed

"Regulations adopted by government with the best of intentions have added $666 [in 1980, that is $1,745.57 in 2009 dollars] to the cost of an automobile. It is estimated that altogether regulations of every kind, on shopkeepers, farmers, and major industries, add $100 billion [in 1980, that is $262.1 billion in 2009 dollars] or more the cost of goods and services we buy. And then another $20 billion [in 1980, or $52.4 billion in 2009 dollars] is [taxed away from you and me and] spent by government handling the paperwork created by those regulations." -- Ronald Reagan (1981)

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