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CBN News discusses a recent study covering small businesses which revealed that federal regulations do even more harm than people believe. In fact, the regulations cost the nation $1.75 trillion a year. Small businesses lose more than $10,000 per employee by following the federal rules.
According to author Phil Kerpen, “Democracy Denied,” a Washington D.C. think tank called Phoenix Center discovered that “each federal regulator destroys an average of 98 private sector jobs per year.”
He added that “when you talk about spending, it’s often far more costly than just what we spend on the budgets of these agencies because of the reach they have into the private economy and the negative impact that they have.”