cost of state regulations on california small businesses study
Posted in the Bloomington Forum
#1 Aug 23, 2011
All Californians need to read this entire report, you are loosing out on loss of 3.8 million jobs which is a tenth of the State’s population.
COST OF STATE REGULATIONS ON CALIFORNIA SMALL BUSINESSES STUDY
This study finds that the total cost of regulation to the State of Californiadirect, indirect, and inducedis $492.994 billion, which is almost five times the State’s general fund budget, and almost a third of the State’s gross product. This cost of regulation results in an employment loss of 3.8 million jobs which is a tenth of the State’s population. In terms of labor income, the total loss to the state from the regulatory cost is $210.471 billion. Finally the indirect business taxes that would have been generated due to the output lost is $16.024 billion. These indirect business taxes lost could have helped fund many of the state’s departmental budgets.
The total cost of regulation was $134,122.48 per small business in California in 2007, labor income not created or lost was $4,359.55 per small business, indirect business taxes not generated or lost were $57,260.15 per small business, and finally roughly one job lost per small business.
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