The constant need for special waivers is symptomatic of poorly written public policy. It's a signal that the cost of compliance is unreasonably high; the benefits are hard to measure; and either legislators or regulators have failed to do their homework.
A fine is a tax for doing something wrong. A tax is a fine for doing something right.
Tax complexity itself is a kind of tax.
I mean, Dodd-Frank is strangling small community banks. It doesn't make any difference what the interest rate is. They're not - they're not going to loan the money because they can't make any money for one thing plus the cost of compliance.
Regulatory failings mean that the cost of breaking the law is far below that of obeying it - businesses are happier to pay fines than to control pollution.
Regulatory mandates have a disproportionate effect on small businesses.
We need to simplify our tax code. We need to make sure that it’s not too cumbersome for people to be able to comply with. And that they don’t end up spending more money trying to file their taxes than they do actually paying in.
Current government regulation interferes with honest voluntary exchanges by imposing arbitrary terms and requiring tons of paperwork disclosing information no one wants anyway.
As American taxpayers know too well, the tax code is incredibly complex and compliance is all to expensive.
Rules that may be easy for Wall Street are a death sentence for startups. They are easy to break accidentally and the penalty for noncompliance is severe.
Small-business people do not want to have more than 50 employees, because that's when all the regulatory burden of Obamacare kicks in.
