Recently, 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 annually. According to the IRS's own figures, it cost taxpayers 6.1 billion hours to comply with the tax code just last year. This 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. (02:09–02:18)
CLAIM
Asserts that tax code compliance is time-consuming and burdensome.
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