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July 13, 2016

How the median income could be $330k instead of $53k

Federal Regulation may have reduced your income by as much as 84% Retweet

Look at how federal “regulation” has grown…


Thanks to J. Wilson at A Libertarian Future for sharing this chart created by the U.S. Chamber of Commerce.

Show this chart to the next left-statist friend who complains about DEregulation. Point out that…

  • There has been no deregulation, pretty much ever.
  • The net amount of regulation always increases, it never decreases.

See the sample letter to Congress below for even more startling facts about regulation your left-statist friends should know. And…

Please tell Congress to pass Downsize DC’s Write the Laws Act (WTLA), introduced by Senator Rand Paul.

Remember, WTLA would…

  • Require Congress to vote on every rule created by Executive Branch agencies
  • Restore the Constitutional separation of powers by reserving to Congress alone the power to enact rules
  • The result would almost assuredly be a reduction in regulation

The hardwired message to Congress for this campaign reads…

I want my Representative to introduce and my Senators to co-sponsor the “Write the Laws Act” (S. 1575).

You can copy or edit the following for your personal instructions to Congress…

Visit this link to understand part of why I want WTLA: http://nyfb.org/IMG/TOPIC_PDFS/FILE_Y4FKM976SW.PDF

Look at the chart. Notice how federal regulations have constantly GROWN since 1976. In fact, this plague was expanding long before ’76.

Economists John Dawson and John Seater report that the number of regulations grew from 19,344 pages in 1949 to 169,301 pages in 2011. http://bit.ly/29ayuMb So I’m led to wonder…

Why do I always hear politicians and leftists blame things on DEregulation? There hasn’t been any net de-regulation. EVER! Regulation have always INCREASED in number! But it gets worse…

Reason magazine’s science reporter, Ronald Bailey, reports on research by the Office of Management and Budget showing that federal regulations confer relatively small benefits compared to the costs. Indeed…

The Dawson and Sealer study shows that regulation does vast harm to economic output and PERSONAL INCOME! Their study estimates that, if regulations had remained at their 1949 levels median income would now be $330k instead of $53k.

A 2004 World Bank study shows similar results for other countries.

The political class also gets things wrong when it blames problems on specific regulatory changes like the Glass-Steagall repeal. Many politicians blamed the recession on that. But as Andrew Ross Sorkin, and others, have pointed out, the repeal of Glass-Steagall had nothing to do with the financial crisis. http://nyti.ms/29uxYac

I want you to stop conferring your legislative powers to the unelected, executive branch bureaucracy. I want to see you co-sponsor or introduce Downsize DC’s “Write the Laws Act.”

–END OF SAMPLE LETTER–

Thank you for being an ACTIVE DC Downsizer,

Jim Babka & Perry Willis

Downsize DC

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