This is what I hope the President has come to realize. 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. (01:07–01:15)
CLAIM
Asserts that government regulations cost the economy $1.7 trillion annually according to the Small Business Administration.
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