And so we've got a perverse incentive for bureaucracy to do things with government that choke. It's a catalytic converter … Returning to 1980 levels of regulations would add five to six trillion dollars to our $29 trillion GDP. … tens of thousands of dollars in the pocket of people working. So, but I think it's about a $14,000 per worker add in terms of what dollars could go towards in terms of increasing wages, not regulatory compliance. (07:16–07:36)
CLAIM
Asserts that reducing regulations to 1980 levels would significantly boost the GDP.
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