Via National Review, this kind of thing sincerely hurts to read. Frederick Smith, founder of FedEx, is definitely not the first major business leader to attest to how much more difficult it is to get new companies off of the ground today, and I shudder to think of all the would-be businesses (and would-be jobs!) that would have had a much better shot out of the starting gate if not for our woefully stagnant economy and the ever-growing costs of regulatory compliance. As Mr. Smith notes, after he founded his company in 1971, a transportation-related regulatory rollback was what allowed his business to grow and thrive, and the regulatory environment today is nothing short of prohibitive. President Obama’s economic priorities, meanwhile, are in finding new and improved ways to tax more money out of the private sector so that the federal government can keep right on spending it for us, all while piling on thousands and thousands of pages to the already tottering record books.

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