John Stossel on Regulations That Create Useless Jobs While Stifling Innovation


Americans will spend $46 billion a year to obey just the new regulations the Obama administration imposed. Think of the money diverted to lawyers, accountants and "compliance officers"—money that might have created jobs and financed products that could make our lives better. Big businesses often have no problem with this, writes John Stossel. They frequently benefit from complex regulation because it increases the chance that potential competition won't even get off the ground. Meanwhile, entrepreneurs can only spin their wheels and despair.