The last eight years have seen major increases in the power and scope of the regulatory state. President Trump has vowed to reduce the number of regulations, which, as the Daily Signal reports, could help “little guy” small businesses prosper and create even more jobs.
The move toward deregulation is good news, because when business owners have to hire lawyers and accountants to navigate confusing regulations, it is the small businesses responsible for most employment growth in the U.S. that suffer the most.
Compliance costs that may be relatively easy for large companies to absorb may be overwhelming to aspiring entrepreneurs. Restrictive regulations are thus a barrier to entry for “the little guy,” and can perversely help the biggest corporations face less competition.
No wonder that many believe the system is “rigged” in favor of the well-off and well-connected, and against everyday Americans.
If we are to preserve our nation’s greatest economic advantages and to fend off the left’s ever-increasing efforts to redistribute the fruits of other people’s labor, we must strive to be an economy in which everyone can have a place, and we need answers for those now struggling to join in American prosperity.Regulatory reform is one of those answers.
The free enterprise system has lifted more people out of poverty than any other set of ideas in history, and certainly more than government interventions ever have, or ever can. Economic freedom is what made America the thriving country she is.
The President’s regulatory reform is a step in the right direction, but it isn’t enough. Congress has yet to act, and the next President can simply reverse Trump’s executive orders.
That’s why we must call and convene an Article V Convention of States. A Convention of States can propose permanent constitutional amendments that reduce the power and scope of federal regulatory agencies. These reforms can unleash the full potential of the free market in this country and allow small businesses to drive us into greater prosperity for all.
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