Intolerable Burdens

Currently, the Federal Tax Code covers 17,000 pages and requires over 700 different forms. The IRS estimates Americans spend over five billion hours preparing taxes annually, draining $194 billion from the U.S. economy.

The Federal Registry now exceeds 75,000 pages. The Office of Management and Budget estimates that merely complying with these regulations costs businesses $500 to $600 billion per year.

 “Over-regulation is hurting our economy, and unfortunately, the problem is only getting worse. Right now, federal agencies are at work on more than 4,200 new rules, 845 of which affect small businesses, the engine of job creation," says Sen. Susan Collins of Maine.

The problem is as old as the United States, as can be seen in this excerpt from the Declaration of Independence​ explaining the tyranny of King George, “He has erected a multitude of new offices, and sent hither swarms of Officers to harass our people and eat of their substance.”

Sound familiar?