As the election season heats up, the debate over regulation versus deregulation is taking center stage. While deregulation is often touted as a catalyst for economic growth, the consequences of reducing the number of laws can be catastrophic, as seen in numerous recent disasters.
The Cost of Laws Cuts
Law cuts, much like tax cuts, is a core tenet of the GOP’s platform, rooted in the belief that reducing the number of laws governing businesses benefits everyone. While the rhetoric of deregulation is politically expedient, the realities of its consequences are far more complex and often detrimental to public safety and welfare.
Republicans often advocate for eliminating entire federal departmentsand numerous laws that govern environmental standards, workplace safety, payroll, overtime, and financial security. They argue these regulations stifle growth and prosperity, making deregulation an easy political sell. In contrast, discussing the need for more laws …