Well, that's true even if we're talking about health care, clean water, and rear view backup cameras, etc. etc.
Someone has to pay for these things, and when someone pays for one thing, another thing is sacrificed. They also told us we had to have our dinner before we got dessert.
In the case of all these added costs, its corporations and small business owners who are doing the paying. Many times, the new costs for the latest new regulations aren't that high. But add it all up, and it's a death by a thousand cuts. And in the end, jobs are being lost.
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That sacrifice comes in two ways. First, the highly efficient corporate world will continue to find more ways to get more done with fewer employees.
Second, smaller businesses don't expand, fold, or simply not get created in the first place because we've set the bar to entry way too high. And the small business effect is far more ominous, because small business is always the bigger driver of new employment. Unlike Corporate America small businesses can't always afford the more automated and efficient solutions, so they're more inclined to higher more people when they have a need. But not when those people come at an ever increasing and more complicated price.
The total number of jobs created every month doesn't show the whole story. Try focusing on the "hours worked" part of the jobs report instead. As economist Ed Lazear explained on CNBC last month, rising labor costs are forcing businesses and even state governments to cut total hours worked even as the economy as a whole adds jobs. The lost work hours are negating the job gains and then some. It's the equivalent of 1 million jobs lost since September.
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