From Dave Camp, “ObamaCare — An Explosion of Regulatory Burdens,” House Committee on Ways and Means, September 11, 2012:
Based on IRS estimates approved by the Office of Information and Regulatory Affairs at the Office of Management and Budget, will take American job creators and families nearly 80 million hours to comply with. Over half of that will fall on small businesses.
So, what can be done in 79,229,503 hours?
- The Empire State building, which took 7 million man-hours to build, could be constructed 11 times.
- The Curiosity Lander could travel from Earth to Mars 13,048 times.
- Halley’s comet, seen from Earth once every 76 years, could be spotted 119 times.
Every hour and dollar spent complying with the Democrats’ health care law are time and resources being taken from growing a business, hiring new workers, or caring for patients. To date, the Democrats’ health care law has resulted in IRS and Treasury issuing thousands of pages of new rules and regulations, including 40 notices, 17 regulations, 5 revenue procedures, 2 revenue rulings, and 14 Treasury decisions. Sixteen IRS regulations implementing the health care law, found below, will require nearly 80 million man-hours per year according to the IRS. Given the enormous impact the regulations will have on job creators, it is no wonder that a recent survey found that over 70 percent of small businesses cite the health care law as a major obstacle to job creation.