A new National Association of Manufacturers study finds that the regulatory burden imposed on the U.S. economy now exceeds $3 trillion a year. That cost is up by more than $400 billion annually under Biden (even AFTER adjusting for Biden-flation). This is a giant second tier of taxation levied on the American economy. The $3.1 trillion regulatory costs on businesses and families are on top of the $4.4 trillion raised in federal taxes.

The study by economists Mark Crain of Lafayette College and Nicole Crain of National Defense University also finds that the burden can be twice as high for smaller businesses. For example, small manufacturers absorb $50,100 of regulatory costs per employee, while the largest firms pay $24,800 in costs. There are economies of scale in absorbing regulation costs, so these rules create a financial advantage for large corporations while the small businesses get shafted.

No wonder big businesses often SUPPORT onerous regulations. It’s a convenient way to crush the smaller competition.