Monday, March 12, 2012

Here's a Funny Idea: Medicare Laws That Are Easy to Read, The Wall Street Journal

President Obama's healthcare law is over 900 pages long. The much criticized Dodd-Frank financial regulation law passed in 2010 is over 2,300 pages long. To make matters worse, a typical passage from the health care law looks like this:

"In the case of a plan for which there are average per capita monthly savings described in section 1395w–24 (b)(3)(C) or 1395w–24 (b)(4)(C) of this title, as the case may be, the amount specified in this subparagraph is the amount of the monthly rebate computed under section 1395w–24 (b)(1)(C)(i) of this title for that plan and year (as reduced by the amount of any credit provided under section 1395w–24 (b)(1)(C)(iv) [2] of this title)."


Whether or not you think America is over-regulated, the fact remains that U.S. regulation if over-worded. (if you are not convinced America is over-regulated, click here to read about the issue in the Economist). The length of complexity has become so absurd that many Federal Judges have spoken out in complaint for the excessiveness of recent legislation. If these appointed legal experts, the public servants we expect to interpret the law, are blocked by the complexity, then it is reasonable to expect the average citizen to be completely lost if they attempted to understand their lawmaker's work.


Over-regulation and long winded laws are likely positively correlated. As a rough solution then for our nation's problem of stifling growth, keep the laws shorter and easier to undersand.

You can find the article here on the Wall Street Journal website

1 comment:

  1. The U.S. tax code is another perfect example of over-worded and unnessary complexity. Although there is an extremely wide spectrum of personal and corporate taxable assets. The long and short of it is that compliance is expensive and time consuming and the loopholes are a function of the fine print.

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