Raising corporate taxes would make inflation worse
What is President Biden’s plan to beat inflation? He tweeted out last week: This was the first time I have encountered the idea that high rates of inflation can be…
Ever since the coronavirus pandemic started, we have seen a huge push in state and federal governments temporarily suspending burdenson laws. States have:
-Temporarily suspended laws restricting alcohol delivery or to-go alcohol sales. The states of california, Illinois, New Hampshire, Maryland, Texas as well as the cities of washington D.C and Atlanta. There are efforts in place to push for similar temporary amendments in the state of Minnesota and other states.
-Enacted mandates loosening practicing regulations for child care service providers. The state of Missouri has loosened laws allowing child care providers to exceed licensed capacity and extend hours. The state has also loosened laws regarding record keeping and made short term licenses available.
The federal government has also gone ahead and made amendments to help in effectively fighting the virus. The federal government for instance loosened privacy regulations allowing health service providers to utilize apps like facetime in connecting with patients.
What this goes to show is that burdensome regulation is what impedes the provision of services and restricts commerce. Based on the evidence we have seen, private entities have mobilized faster to aid in fighting the virus but their efforts have been stifled by regulation. The fact that government is getting out of the way to let effective response take place goes to show we can do with fewer regulations. Be it in health, financial markets, childcare, trucking industry, occupational licensing and many others. This is the time for many states, as well as Minnesota, to evaluate laws. This will enable legislators to amend burdensome laws after the pandemic is over.