Can someone quantify regulations?
Trump met with some CEOs today and told them he would cut regulations.
"We think we can cut regulations by 75%," he said. "Or maybe more."
Knowing Trump, he will go ahead and order his deputies to cut regulations by 75%. The problem is that I don't think anyone knows exactly what that means?
Everyone is against over-regulation and I imagine I'm subject to hundreds of regulations that I don't even know about. Others I know about but don't affect me. Like I don't have a dog, so I don't need to worry about regulations on getting a dog collar.
Is it the total number of regulations? Like, is there a list somewhere with every regulation in the US and they will cut out 75% of them?
Or how about geographically. Like Trump will take out restrictions on oil drilling in 75% of parks and preserves and that will meet the criteria.
I think it would have to be weighted on time, or hassle or money. Like if I'm a car rental company the biggest expenses and pains in the ass would be getting licence plates for all those cars. So Trump might take out a regulation that says my workers need to wear steel-toe boots and that's one less thing to worry about, but I'm not sure it's the win I'm looking for. And someone is going to have to pay when the employee gets his foot run over. So instead of a hassle from the governments, you'll be hearing from the courts.
Or say you're a gasoline refiner and you have a pain-in-the-ass inspector who is always checking the quality. So we get rid of him and crank up production. Boom. Profits. But when you're gasoline is watered down and your engine seizes, someone is holding the bag.
I don't even think it's safety or quality or even hassle that bugs companies. What irritates everyone is time. Trump hinted that will be the goal.
"When you want to expand your plant or when market wants to come in and build a big massive plant or when Dell wants to come in and do something monstrous and special, you're going to have your approvals real fast," he said.
That's something almost everyone could get behind, but he didn't say reduce waiting times by 75%, so we'll just have to wait and see what gets cut.