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Ron Johnson: “According to the IRS's own figures, it cost taxpayers $338…”

Featuring: Ron Johnson, Republican | U.S. Senate, Wisconsin

Ron Johnson Responds to the State of the Union

Published January 25, 2011 | Video Starts at 01:15

Last week, President Obama talked about the harmful effect of government over regulation. Highlighting this problem is long overdue. The Small Business Administration estimates that government regulations cost our economy $1.7 trillion every year. According to the IRS's own figures, it cost taxpayers $338 billion to comply with the tax code just last year. That is a staggering amount of money, and it is money that is not available for consumption, business investment or job creation. That's a problem. (01:15–01:24)

CLAIM

Asserts that taxpayers spent $338 billion on tax code compliance last year according to IRS figures.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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