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New data shows that federal regulations have led to more people living in poverty, greater income inequality, fewer businesses, fewer jobs, and higher prices for consumers in Mississippi.
According to the research from the Mercatus Center at George Mason University, here is the overview:
– 86,135 more people living in poverty
– 3.6 percent higher income inequality
– 904 jobs lost annually and 68 fewer businesses annually
– 7.35% higher prices
As the data shows, the need to reduce regulations is not just a good talking point. It will help Mississippians earn more, start more businesses, obtain employment, and pay lower prices for consumer goods. All positive economic measurements.
While Mississippi doesn’t control federal regulations, the state does have 118,000 regulations totaling more than 9.3 million words on the books, all having similar detrimental impacts on the economy. For a couple of years, proposals have been introduced that would create pilot programs mandating a reduction in regulations from a handful of agencies.
They have never made it past the finish line.
Russ Latino
MageeNews.com is an online news source serving Simpson and surrounding counties as well as the State of Mississippi.
