Also in this playlist...
This transcript is automatically generated
Government that war against the little guy.
You never thought working on his own property would cost him although -- What I worked so hard for politicians say they want to help the little -- that's how we support small business but government support comes straight.
Stephen -- another 200000 dollars.
-- could this hurt me.
Never arrived -- good ideas or stifle.
Like it cheaper way to travel.
For people who more ahead for me not even have thought about coming into the city government also stifles new ways to get around -- Why can't everyone be ahead.
Because you're correct go to war against little guy.
That's our show.
Do you want -- create something build a -- this invent something new.
You'd better be sure you understand all these rules a 170000.
Pages of -- this -- the I'm not a federal regulations on the books as of today.
If you break one of these rules government can -- your life.
Yet when each of these rules was passed someone believe.
This rule that rule this is necessary it's gonna make us safer this what is gonna make the marketplace more fair and so they keep passing more.
Thousands of new pages every year.
Doesn't any politician.
-- see that there's a problem with.
Well yes finally for the first time in my career some politicians get it and one is the new senator from Wisconsin Ron Johnson.
What made you get it.
What made me get it well certainly have lived my life under regulations in the private sector -- -- -- the harm.
The government can actually do not -- to business and job creation and those middle income individuals are pres obamas -- czars wanted to protect.
It's an army government regulation.
He can be helpful but far too often it it just.
Yeah flies in the face of common sense and of course the thing we really need be more concerned about.
-- free societies and all powerful government that actually can ruin lives and that's really what.
I'm trying to point out is the victims of government.
Par well let let's talk about when it's necessary in a moment but your background.
May explain why you care about this you.
Unlike so many politicians here and you work.
A lawyer by trade.
You ran a business you -- the plastics manufacturer bright and and I can't imagine what kind of regulations you ran up against but you.
Saw -- them any bureaucrat could torture you.
Absolutely and and and John now that I'm here and I'm hearing I see businesses coming day after day.
Talking about this regulation or bad regulation basically my business.
And what -- government regulators don't understand is the law of diminishing returns.
-- -- some of these regulations may be appropriate but it goes well beyond.
Common sense and has real harm to businesses which means it does real hard to job creation -- users' real harm done to real people.
So for your victims of government web -- you made a little movie about one victim a man from granite city Illinois who.
Finally took action to fight floods in his neighborhood.
Any city Illinois has suffered severe flooding since the 1950s.
More than once the White House to clear the area a disaster the court -- study after study after study in the -- did nothing.
Until -- granite -- -- decided to take a bold step he never thought working on his own property would cost him almost everything.
And what do you mean cost him almost everything.
-- almost went bankrupt basically he could not develop the land at all for -- three years.
-- the cool for 23 years your movie goes on to explain that.
When that Illinois man tried to Obey the government's regulations the EPA told him he needed to get a permit from the corps of engineers.
Steve invested another 200000 dollars to life of this permanent.
-- fourteen years ago.
The permanent never.
-- three years later have to write it down into the street.
Steve is on the verge of bankruptcy.
What difference does government intrusion make.
Steve and his family.
More than a dozen years waiting for the permit we called the corps of engineers they say.
We followed correct policy and procedures to enforce the law.
With him and our partner agencies think.
They're comfortable with this slow.
Are -- these laws are written they -- re good regulators all the power and the regulators take the power.
And so even though -- -- -- did everything right he got all the necessary state and local permits.
He tried to comply with every rule regulation he didn't comply with -- -- regulation.
But there's -- just a little bit will look he'll wiggle room for the regulators and that's what's so absurd about this in eight studies the army corps base -- recommended turning that dump.
Into a lake or channels to mitigate flooding.
And by the way deal if they would have got -- would cost four million dollars Stephen -- -- for a 100000 dollars due to flooding did stop.
But then the court comes back and says you know what Stephen that was a wetland you turned -- -- into a lake.
You know shame on you and that then they sent threatening him and that's just a problem with with an all powerful government.
Americans are are basically had governments mercy they become victims of government -- we see that time and time again across all the agencies.
And you earlier said there are some things that need regulation.
What what -- the feds need to regular.
Well listen I think food and drug safety I think transportation safety vehicle safety and we actually do have to -- monitor air planes in the sky.
Yeah I think most Americans are environmentalists I think some common sense environmental regulations do make sense but again -- when you have the EPA.
Good regulates ozone gets down to 75 parts per million we do that successfully and then I guess you got an ozone department they're going well.
We completed that now what should we do I know let's knock -- down to 65 parts per million at a cost about a trillion dollars over ten years again it just.
Gets beyond the point of diminishing returns.
And government just is not very good and bad.
In rejecting any kind of common sense in -- terms what it does it just follows these rules they found a letter regulators are very risk averse.
But -- let's face it their job.
His regulating things and so -- keep looking for more things to regulate -- harmed or economy and a great harm to individuals.
Thank you senator Ron Johnson good luck with your victims of government campaign and I hope.
Other politicians will start paying attention to these victims but since most of them don't it's good that we have groups like -- Its web site says they're devoted deliberating the entrepreneurial spirit.
Michael strong and CEO -- flow he's an entrepreneur himself and so is his wife.
My -- weights you learned about this when you started a charter schools.
And indeed -- charter schools are designed to create innovation and public school problems system.
In the third year of operation our charter schools ranked 36 best school in this country.
But we -- -- best in the country but we were New Mexico -- not known for great education exactly exactly.
But we were constantly being attacked by -- regulators at one point the toilet.
-- holders were deemed to be six inches too low and they threatened to shut down the school this is a direct attack by the public school district.
They wanted to attack us -- V6 the regulators on us to shut us down.
He didn't have the right file folders in the -- at one point and an audit we were doing because there are certain number of file folders might have been eight I don't even remember we get thing done or -- it for nothing.
My god you run a skin care company -- a year from Senegal you -- you've seen.
And in some ways I guess you could say it's a good part about America most of Africa is worse.
Tests I think it's very counter intuitive for most people when they think just in the makeup room I was talking to really be doing my make up.
And she was like oh really gonna talk about regulations in Africa I tend to think that there's not enough regulation maybe that's why just to -- and I -- It's a whole opposite as a matter of fact we have so many regulations where -- -- where -- -- being strangled.
Just starting a business is almost impossible.
With because you have to bright people -- to get a thousand -- these -- well let's just take groups a situation of Senegal you have.
At least 1012.
Different entities but you have to go to to get things done.
And at each level it's one more room for someone to -- you so they can get bribes from you.
Which DNA test.
And bomb also the cost the cost out here in ten minutes I can set up an LLC.
I'm sitting in the comfort of New York State and I'm setting up an -- in Delaware.
-- within ten minutes.
The Delaware is the easiest Delaware being the easiest more and you know more more the more friendly to businesses and within ten minutes it's -- it's.
-- almost three to do it in Senegal you're talking months and months and months of operations.
Thousands of miles of going from office to office to office and few thousand dollars to get -- -- Not everybody can do that.
So one more modern accessible example of this eBay.
What happened there.
My -- with eBay it France wanted to license it to as if it was a real auction -- -- long licensing spot if they already existed in America they just started doing it.
But France says you need to have a license has an auctioneer because it's an auction.
And it took much longer to get -- eBay going in France because of this I was -- think three years of dispute exactly when you're starting a business you don't have time to -- mess round eBay is now one of the largest economies on earth and how -- Every country had all these obstacles we might not have -- there who think you know extraordinary.
And -- the assumption in America is that these regulations are needed to protect consumers from year.
And to protect us from the big business -- you say that's a myth.
In almost every case the big guys use regulation just keep to small guys out they can afford the lawyers in the compliance departments.
And they're happy if that keeps small entrepreneurs like you -- -- -- -- -- You know again I if I oftentimes fight with the hello because of these the replica -- the you know the international labor organization I dig a country.
Where it is literally literally impossible for me to fire an employee.
-- employees doing their job or not it is it it it's its it staff.
But come back into road to get freed up an employee who stealing from you were not doing their Warrick and rock -- the even -- Yeah it's impossible.
And -- this is because the labor unions have persuaded the government to pass laws saying.
If you fire someone you must show us this documentation owner yes -- you just fire the person they know it's.
But laws are so complicated.
That it before you can fire and you -- you -- it's it's just it's it's almost impossible to fire anyone.
Legally speaking without having to pay without having to -- which is which raises the cost of doing business so result as I'd like to say if I can't.
Fiery you -- I can't hire you it is that simple thank you -- -- and Michael.
-- later new ways to save money when traveling.
And also -- -- money from your own house.
When he Robin is a professional make up -- Q does make up for movies and TV show.
She's worked on the Bernie Mac show.
Done Billy crystal's -- As well as the rock.
And she's taught other people -- applied make -- But now Nevada bureaucrats have told you -- you better get teaching license if you're gonna teach people how to do make up.
Immediately -- we're gonna find you thousands of dollars.
Tim Keller from the libertarian law firm the Institute for Justice help people like -- fight back so.
This came as a surprise -- you you've got a letter.
Actually received a phone call from the state porn thing that they would be fining me if I kept my school -- and them that I would be subject Hume.
If I didn't close down and become a cosmetology school it's -- -- -- Cardinal great and becoming a school you had a little storefront store you have to expand -- team.
To have up 5000.
Square feet of space meth and what else.
Well they basically said you know you can't teach make up you're in violation of of laws by teaching make up.
And that I had to open up cousin apologists go way to end cost me thousands of dollars probably -- -- -- 100000 Amare.
He -- they have.
-- -- bowl for stuff you don't use exact going.
And Tim this is not unusual no unfortunately it's not.
Often times we see states giving.
State boards tremendous authority to enforce laws and it's.
The regulated industry itself.
That controls the state boards -- a vested financial interest in keeping it out.
Competitive threats like Wendy.
From the market and that we asked the Nevada state board we left a message they didn't call back but we did reach the president of the National Interstate council of state boards of cosmetology.
Without licensing without training we will -- individuals spreading disease.
You're gonna spread disease.
-- Bernie Mac could say it's a bunch of ball.
Took a there is I mean what I'd do it it's completely different I keeps me make up artists how did you make a profound for television for commercials for press.
Let this thing -- -- cosmetology.
You've had a successful career other famous actors you've worked with.
Like I have I have worked with so this transcendent work with Matt came and I'm gonna make up artist for 25 plus years.
I have a teaching -- and suffer private -- secondary.
I'm not -- has it that the five and I -- -- -- that they've won so far they've shut your school that they have it's really unfortunate they had shut things down.
You know based on audience finds the rules and regulations.
And -- costs -- over a 100000 dollars at least.
And had renounced him but you're going to open her back out there is simply no reason to force -- To comply with the cosmetology regulations and yet I sense the public is against us on this -- national poll.
Found 82% of the people said -- if state stopped licensing safety would decline.
That is absolutely not true if the state has any will think it will look well.
-- -- the state has any vested interest in protecting public health and safety -- can do so with out fencing out competition requiring people to spend.
Years and tens of thousands of dollars in cosmetology school simply to cut hair do nails is -- But they don't think they're at war against the little -- They are absolutely at war against the little guy.
Both Wendy's business and our other client list that law had -- riding makeup artistry schools until the state board came in and shut them down.
Thank you Wendy and Tim I should point out that in our pile of -- 170000.
Rules that does not even include the state regulations that.
Torture people like you.
That's the federal regulation alone it's bad -- -- but state and local rules are as bad or worse.
And coming up another example that you need a place to -- but you don't -- -- spend a ton of money there are cool new options available.
-- local regulators want to crush them.
When you writing.
We according to doctor says and I got to make you feel right to tell him.
My kids grew up they moved out I have to empty room at my house.
She had bits of New York tourists would like to ripples through they could save some hotel money and I could make someone.
But how would they find out about my room.
Here's a way Internet sites like air B&B and rumor -- make it easy.
They have ratings system so I can see the person who wants to see if they have a good reputation.
And -- can see if I didn't.
-- great come stay with me.
-- -- -- -- -- Apparently I may not read those rooms legally two years ago.
My state passed a law that makes most of what apartment rental sites do illegal.
What's the had a -- -- and TO the founder of rumor promises she knows.
What's it about and I think.
Large part of it comes from the fact that you know short term rentals to in popularity -- have it growing in popularity over the last couple of years.
And that has posed -- be some competition to hotels.
The hotel business loses business if -- really been in -- Are bigger business they have lobbyists.
They contact the legislator -- Yes but the business goes on anyway yeah I mean -- the business goes on -- mean -- mean we operate in many different countries many different cities in the world.
500 cities in America 5000 cities around the -- -- -- and -- 100000 properties and growing -- -- and even here in New York -- largely illegal people doing it anyway it's that you know -- platform.
So anyone can go up there and -- their property here in New York -- customers -- find 800 -- Yes and they got off the site yes in -- -- but thousands.
Today a thousand people are renting this -- -- yes and so -- so explain how works you have I we have these samples here.
This is room cozy private room in a brand new apartment looks nice 73 bucks yet.
So how do we know this isn't some horror movie and somebody coming to my house isn't -- -- kill.
-- I mean that the whole idea of -- Obama and sites like ours is transparency.
Right so you have pictures -- have reviews you have readings even conceive a host for sponsoring and whose response times.
So so for you what we're doing is putting for the customer everything on an apples to apples basis you can then compare thousands of listings on the same time.
And pick the ones who -- the past -- And if I give the -- a hard time it appears in your site and people avoid exactly.
Here's another one that's even cheaper thirty bucks it's not it's nicer room but.
To get a hotel in New York cost 200 and when you started this because you travel -- lot.
Yeah -- not to travel my husband and I love to travel so we basically found that the business together because.
You know we are -- mid twenty's didn't want to stay in with hostile and wanna stay in budget hotels.
So we thought -- there must be thousands of rooms.
And apartments available -- we find them hardly -- then and you started with Craig's list we were renting our own face on Craig's list whenever we went and we.
But at the same time you know using Craigslist was very I'm reliable.
You know -- So we -- because people would change their mind after I mean people would say -- give the keys from you for ten nights and then.
You know when they arrived they would be -- -- -- -- -- house.
-- -- -- -- I asked the forehand because.
What you know what kind of credibility did you have gotten on an online classified.
And so we wanted to give.
You know people like us a platform to rent out space easily.
And also people like us were traveling and wanted to find these spaces easily give them a platform to book.
Find -- book cases to stay anywhere if he went.
It is taken -- continues to grow despite these -- well in New York yes I mean you know it's I again market demand and supply.
One -- someone gets taken off the -- someone new comes on.
Said this isn't fair to the neighbors.
And because you get people going in and -- when we have to protect well.
The hotel association of New York says people who use -- cider at risk due to safety fire and security can.
Certain I mean those are legitimate for for sure I mean you want to protect consumers against scanners -- slum -- for shark.
And by you know I think I think this has been a proven model with anti Indian with with us that.
I'll be put systems in place where we have meetings good news feed back.
So if you know again anybody been hurt any fires -- you know -- you know thus far no everyone has been pretty respectful.
Because they know it's not a hotel.
And to be honest any of those cases could happen even if it was.
-- -- -- And some towns and it seemed more ready to embrace this and -- -- Palm Springs,.
It's good neighborhood sure.
-- -- -- discussed this and say.
Respect the noise rules and accept this reality that people want to do that -- I.
And I think that's that should be -- -- well thank -- -- and -- out.
The politicians -- -- this in the pocket of a hotel business.
-- they just -- regulating us to death one agreed to talk to me state legislator Liz Krueger sponsored the bill to ban renting your apartment.
-- -- why can't I do what I wanna do with my property.
Because you live -- -- multifamily dwelling this law only applies to apartment buildings.
Of over six units and where we all live together under one roof.
And this law came out of tenants all over the city.
-- in their legislators for help.
They were being harassed.
By strangers in the middle of night entering their building.
Moving into the apartments next store they were bringing in party crowds who -- partying all night in the Paul ways respecting no rights of precedents.
Violating the fire code the safety code.
And harassing people sometimes very aggressively out of the buildings because every unit they could get their hands on was more money for these companies.
Now I believe -- that there have been problems but are you saying that nobody was happy there weren't some tourists who were getting great deals and some.
Homeowners -- apartment owners who were making some bucks and maybe even some neighbors who liked having people in the apartment.
Let's be honest I didn't find any neighbors who light -- Now the -- are already playing the EU politicians they did we spent five years in community meetings with tenants all over the city of New York.
Documenting the problems -- this is protecting you.
And your family.
Why can't the owner of the building work this out why do we need you control freak politicians to pass one -- that.
Doesn't -- at all.
Well in fact this rule only applies if -- -- complaints so nobody is complaining there in fact nobody is following up.
But it somebody complains you could be find 25000 dollars.
You could only find 25000 dollars if you have been doing this.
On an ongoing basis and torrents are complaining they go online they think they -- signing up for a hotel room.
They pay through a credit card.
They walk into a situation that is dot safe.
Not clean but these web sites have reviews people know they're getting into no wait don't actually not all of them have previews.
And people have been actually caught.
Making up their reviews to try to get other people once you've given them your credit card and they build you no matter how terrible experience is.
Your end up having to pay if it's a terrible experience how come these businesses keep growing.
We'll probably because of the expansion of the Internet and the fact that there's a broad universe of people all over the world who occasionally come to New York City.
You support and more regulation on construction projects bicycles on the sidewalks you -- -- banned styrofoam.
He ever appeal anything.
Yes actually New York sits data actually does repeal laws and Ivan Watson when -- -- You know I've been in the senate for eleven years so you'd have to ask you to come back.
And I would come up with a list of laws that have -- I look forward to that they -- state senator Liz Krueger.
Coming up why is Kennedy running a taxi service attack Iraq customers seem happy -- What is this legal -- -- government soon crusher I hope not better not.
Why would thinking that that's next.
Today new technology makes it easier than ever to be an entrepreneur -- Just to the Internet let's low morale -- connect tourists to people or rent rooms and apartments.
A new Smartphone app called lift connects people who want taxi ride with people who have a car and some free time.
The driver make some money the passengers save some great everyone wins well.
Not the established taxi companies so they turn to government regulators.
Last year California find lift for operating as passenger carriers without evidence of public liability coverage on file with the CP UC.
Failing that would roll drivers in the employer -- Lotus program and so on and on.
This is a matter of public safety said the regulator.
So is lift -- public safety probably -- We have special correspondent Kennedy check it out she became a lift driver.
She had to go through a background check and in person interview a check of her car for safety and insurance and after that.
She wasn't business.
Bryant passengers are encouraged to get in the front seat because that's friendly -- sister company.
And drivers is supposed to give a fist but I'll think I'm.
-- -- and year Alex Alex Alex Sink or a fan's blowing -- Kennedy did not put this ridiculous mustache and her car just a mock me.
All lift drivers use them it's a way to identify lift cars after Kennedy dropped off -- first passengers.
If she then checked her phone to see who else wants -- we.
Just like fishing.
-- look at the -- okay that.
Passengers save money they paid less than normal taxi fare Kennedy made some money and gets to keep most of them.
She's happy how much time passengers are happy there is amazing -- Very -- So all this was a good experience.
This is a perfect marriage.
Of entrepreneurship in capitalism and technology.
This was a great experience.
I would use this platform it's so easy to use -- it was really really fun to be driver.
Our side is -- work no money changes hands is all by credit card yet you put your credit card information into -- application you also have to have.
At FaceBook account that matches your credit card -- so they know your real person.
-- check your FaceBook friends to make sure you're not a minor.
-- And -- time drivers -- passengers if there's a passenger -- a problem yes it it's like eBay or air India these other companies where you have incentive.
To deliver good service and to be a good customer you rate each other so in passenger got out of the car they raided -- when they got out of the car I raided them.
And -- powers lift make money.
This makes money by donation I think that's one of the ways they're the -- -- a donation not.
Not yet a cab fare -- and I don't know if it -- some sort of charitable organization that's coming skirt taxes or liability or whatever.
But whatever the case.
On your phone you decide what the donation is there's a suggested donation for however long -- far your ride was and you can add.
-- -- -- But you can -- a little something on to that.
-- -- -- -- -- don't pay the recommend that amount.
You the next driver knows and might not go to pick you up.
That's another incentive for being a good customer because you're bumped up in the -- if one of the drivers is looking for people -- who donate well or beat.
Rate drivers with the high star rating.
So the regulators said this is a public safety threat.
You know wet -- we get our cars it's safety concerns was dangerous thing we bill but.
Some people don't -- dry and they -- -- pay money every single time for a taxi it's a great alternative.
And you they did check you out out the background -- was so thorough we actually had to wait an entire week should the segment.
Because you go -- criminal background check and DMV -- you have to show proof of insurance and your driver's license they have my Social Security number so.
Actually of wearing a black white they have to hands he's all bent my you know -- the power of the -- meet you.
I'm on this swayed branding so people -- see looking mustache like would that I think he's all over the place.
And that's how you know you're lift -- arrived so not only can you see on your phone your car is approaching you look up you see the pink stash and -- when I CEO.
Have an honor angels are singing.
So far -- only in San Francisco Los Angeles Seattle Chicago but they're expanding rapidly this sounds -- and I love the site.
It's a great idea it really easy it's so easy Eugene don't have to pull out any cash.
And drivers and customers.
Are thrilled with the -- thank you Kennedy let's hope the regulators don't kill it off next.
-- more good news once or twice government has actually repeal the regulations in the results.
Great consumers save money -- is this is in evaded.
We'll tell that story.
People complain about high taxes but when it comes to the war on entrepreneurship.
This pile of rules is just as damaging or worse.
Because sometimes taxes get caught but the rules they never get cut they just passed more -- thousands of new pages every year.
Is there no hope.
Well there is because and I said rules were never cut that's not entirely true a couple times in American history bureaucrats have actually said let's repeal something.
And the results have been term effect.
Economists Wayne Leighton and Edward Lopez right about that in their book.
Mad men intellectuals and academics scribble so what's -- title me.
Academics revelers are people who come up with ideas new ideas think of some professor at the university somewhere.
Those ideas do nothing until they're picked up -- -- popular this is -- intellectuals.
Intellectuals may be writers for the Wall Street Journal or New York Times.
V talk show host preachers teachers.
Even television show host John Stossel.
-- people who take ideas and spread them out they -- those ideas those are dangerous but that idea that something to make popular.
As -- imagine I'm the -- and our politicians people who hold believers of political power.
And when I did becomes.
Mad men have every cent in the world to give the people what they want.
For any comment that they're not all bad it's a play on words from phrase by John -- can't it's the -- gave us more government spending for the 1930s he said -- -- in authority.
We're voices in the air simply distilling their frenzy of some academic -- Are well let's talk about these.
Few wonderful times when rules were removed.
Airlines airlines used to be regulated that the affairs of people would pay by the federal government.
And in the seventies and eighties we went to the open market and what -- -- good things -- -- from.
To the seventy's there was the Civil Aeronautics Board and no airline could raise -- price or change -- route without their permission.
And no new airlines were approved all that time no jetBlue -- -- southwest was allowed to compete.
And this was changed by of all people Teddy Kennedy.
Teddy Kennedy was one of them madmen in authority who saw an opportunity.
To create a different set of rules that govern this industry.
And make a name for himself and his political career and we're probably woke Senator Kennedy up -- that he was in Boston flying to Washington and he noticed.
-- affair is a 196 box and today's dollars.
LA San Francisco about the same distance the Ferris less than half that what's going -- The LA San Francisco market was -- in the state of California therefore not regulated by the federal government.
Washington DC that's traveled across the state lines.
That means the Civil Aeronautics Board has jurisdiction they regulate base at the fares and those -- were higher.
More than twice the size even politicians could understand that.
They deregulated prices are so much slower now in today's dollars the price is about a third of what it was if you look at the data across the board.
In the last thirty years airline fares are down 50%.
And that includes the baggage fees that we're paying now.
Another good news stories in that it in the seventies.
There -- some vehicle the Interstate Commerce Commission which did well.
Interstate Commerce Commission regulated shipping by truck and by railroad and -- that we have to or they'll be -- he'll be overcharged by these greedy companies.
People say that regulation is protecting consumers from.
Greedy companies overcharging them.
But when you actually look at what happens.
Shipping rates were very hot very high -- an ICC.
And wants -- ICC was removed of its power initially.
And then eventually abolish -- 1995.
What happened direct shipping rates.
They went down just like airline rates did the politicians -- you can't deregulate the rates go way up they went down.
-- -- So our our final example of one of these rear deregulatory process -- still going on the spectrum.
The start of the 1930s the politicians had administrative hearings which basically -- one bureaucrat said you get it and you do not.
And this went on for decades then the federal government moves to lotteries which basically meant someone literally won the lottery got the license.
Finally in the nineteen and I told us for a -- -- the lowly when's the auction Wednesday license at a lottery and then sells it to AT&T or Verizon or T-Mobile.
Makes millions -- Ali academic said auction along.
Some professor named Ronald -- If the -- -- Chicago goes on to win Nobel Prize for when he proposed this idea he was ignored.
Officials at the Federal Communications Commission that regulates the Airways actually marked him and yet it happened that took unbelievably long it was even supported by President Carter and President Reagan and President Bush.
But finally could only happen under President Clinton the push came when they need the money.
President Clinton wanted to balance the budget the Republicans in congress also liked that idea where's the money gonna come from.
Was about being more efficient he had their final push we can actually raise billions of dollars the treasury.
Let's try this so it can happen if the politicians think they'll make more money from it or if you get the Democrats ball.
That's the story we have.
Thank you -- late Edward Lopez next how cheap bus travel and the wonderful web site in the -- We're both hill by the politicians war.
On the little -- America's filled with little business -- good ones that -- crushed by government.
Like to Chinatown buses peace Chinatown based bus companies like Hamas and -- -- are packed every hour -- bargain hunting writers.
It's the easiest.
It's the most convenient way new York and it's going cost ten dollars to keep -- that these new independent bus companies figured out that if they pick people up right off the street.
Going without a bus turned them.
They could save money and offered very cheap fares passengers are pleased but the American bus association is worried.
It fears the future of the motor coach industry.
Could be threatened by low price Chinatown buses which it claims are -- is an operating illegally.
Companies that operate at a -- Substantially reduced cost 14 of what might cost most operators to operate today's environment.
Have to be almost cutting corners somewhere government quickly sided with the unionized bus company.
It's Chinatown buses must've cut corners.
Quickly the US Transportation Department notes.
They had to study showed.
Chinatown buses were a safety risks seven time greater chance of fatalities that is unacceptable.
And it will stop.
Seven times so the government forced 27 Chinatown bus companies to close.
But that study which senator Schumer request and turned out to be bogus.
This month reporter Jim Epstein found that the bureaucrats mangled the data.
They counted Greyhound buses this Chinatown buses and made other mistakes turns out the Chinatown buses were about as safe as others.
But the truth came too late to help those entrepreneur yours and -- happy customers today most Chinatown buses are out of business.
One more example.
In trade -- count it was a prediction market where people could -- on anything.
Political elections American Idol winners year after year in trade predicted Oscar winners correctly.
Thank you so -- And -- trade odds were great predictors of election results.
Last presidential election while Karl Rove was still saying this look I I don't know what the outcome is going to be in trade had declared Obama the clear winner.
-- said he had in 99%.
Chance of being reelected and a half hour later Bret Peterson deaths we have called this race for President Obama.
For years in trade frictions were more accurate that all the pundits on all of the networks.
Prediction markets were accurate because they represent the wisdom of lots of people and people serious enough to bet their own money.
But we can no longer rely -- wonderful in trade predictions.
Because last year the US government declared that in trade didn't have a license required under Dodd-Frank.
The government put it it is clear pros.
In trade violated section four CB and 93 of the act sections six CB and thirteen 832 he -- submitted by Todd frank to be codified set.
You get the idea.
Full regulation is somewhere.
In this pile of boxes.
In plainer English the regulations complained that in trade allowed Americans to buy commodity options without American bureaucrats permission.
Seems fine to me they say that's illegal.
In trade might have tried to get permission but it was a small company and it was likely the bureaucrats what -- said no because at one point they simply said.
Prediction markets are contrary to the public interest.
So in trade gave up -- -- out of business were deprived of accurate predictions.
When government crushes little guys it makes all of us -- Losing in trade in Chinatown buses are just the visible losses there's much more loss that's invisible because this regulations skiers on troop maneuvers.
-- and even trying new things.
Opening a new business is Harden off without having to fight government to.
So we lose innovation we have no idea what cool little things we might have today were it not.
For all these rules so the solution to get rid of most of them implement the Stossel -- -- for every new regulation passed repeal can all look.
It would be a start.
That's our show thanks for watch.
Filter by section