President Donald Trump promised he’d get rid of bad rules.
“Remove the anchor dragging us down!” he said when campaigning for president. “We’re going to cancel every needless job-killing regulation!”
Trump was a developer, so he knew that the thicket of rules government imposes often makes it impossible to get things done.
But would he keep his deregulation promise? I was skeptical.
Republicans often talk deregulation but then add rules. People called President George W. Bush an “anti-regulator.” But once he was president, he hired 90,000 new regulators!
Trump has been different.
When he took office, he hired regulation skeptics. He told government agencies: Get rid of two regulations for every new one you add.
I think his anti-regulation attitude is why stock prices rose and unemployment dropped. Trump sent a message to business: Government will no longer try to crush you. Businesses then started hiring.
Of course, the media wasn’t happy. Reporters love regulation.
They call Trump’s moves “an attack on the environment” and on “workers’ health.” The New York Times ran the headline “Donald Trump Is Trying to Kill You!”
What the media don’t get is that regulations have unintended side effects that often outweigh the good they’re intended to do.
Cars built smaller to comply with President Obama’s rules that require doubling of gas mileage cause increased deaths because smaller cars provide less protection.
“Should the government tell you what kind of car to buy?” asks Grover Norquist of Americans for Tax Reform in my new video about Trump.
Norquist says that Trump has largely kept his deregulation promise, and that’s been great for America.
For example, Trump repealed the Obama-era plan to classify franchise businesses like McDonald’s as one single business. Why?
“The trial lawyers want to be able to sue all of McDonald’s, not just the local McDonald’s, if they spill coffee on themselves,” says Norquist. “And the labor unions want to unionize all McDonald’s, not just the one store. That would have been a disaster.”
Trump’s FCC repealed Obama’s “net neutrality” rule, which would have limited internet providers’ freedom to charge different prices.
Democrats and other regulation-lovers predicted repeal would mean that rich people would dominate the internet. Bernie Sanders even tweeted that repeal would mean “the end of the internet as we know it.”
Of course, none of those things happened. Or as Norquist puts it: “None of it! None of it!”
But some Obama regulations sounded so important.
Norquist laughs at that. “The names for these regulations are written by regulators. They’re advertisements for themselves.”
Of course, unlike advertisers, regulators don’t list side effects of their rules, which Norquist says should read: “May cause unemployment, may reduce wages, may raise the cost of energy, may make your car not drivable.”
Trump’s deregulation record would be better were he not so eager to add regulations, such as tariffs, at the same time.
“There is a challenge. Trump is a protectionist in many ways,” says Norquist, sadly. “Tariffs are taxes, and regulations on the border are regulations on consumers.”
So are Trump’s “buy American” rules.
“That sounds like a good idea, but it’s a dumb idea, and I wish he hadn’t done it,” says Norquist. “That is not deregulation. The good news is that the vast majority of the acts have been deregulatory and tremendously helpful.”
Recently, Trump announced, “We have cut 22 regulations for every new regulation!”
He exaggerated, as he often does. The real number is about five. But that’s still pretty good. Better than Ronald Reagan did.
I wish Trump would do more.
I wish he’d remove his tariffs and agricultural subsidies and kill the Export-Import Bank, drug prohibition and the onerous rules that encourage illegal immigration by making it almost impossible for foreigners to work here legally.
Keep your promise, President Trump! Repeal 22 regulations for every new one!
Nevertheless, so far, mostly good.
Every excessive rule repealed is a step in the right direction: toward freedom.
11 thoughts on “Trump’s Promise”
President Trump is doing a good at following thru with deregulation. Despite the bureaucratic cronies embedded in our Government.
Thank you for telling the truth, Mr. Stossel!
I run a business. I am currently being hounded by government for something….they are not even sure why they don’t like me…they just DON’T. I wish the President could get rid of stupid local Municipal Codes and Regulations. Talk about business killing…….Municipal Codes are the sworn enemy of all businesses and private property owners. They need to go away. They should be ruled unconstitutional, but nobody has the intestinal fortitude to fight it out in court. I don’t have the money. I have the will……but not the means.
Regulations just strangle everything.
With you John! Keep.er’ rolling
Great piece John, as usual!!!
Excellent! Could sign under every sentence!
I’m in agreement with your story Mr Stossel. Love your coverage of truth. Wishing for many more years of your work.
John, keep up the good work and please keep educating us on the correct things the way it should be. You and I see eye to eye on pretty much everything. Thank you so much.
Trump is one if US.
Trump will destroy the economy even better than the Republicans did a dozen years ago. Too bad most of us lack the golden parachutes the destroyers have.
You and Norquist are a potent pair so keep up the battle together. If you can recruit Dr. Lassiter too that’s even better!
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