Trump tells business leaders he wants to cut regulations by 75% or 'maybe more'

Trump had a meeting with some business people and said he wants to cut regulations by 75% !!

Mostly "climate" related I think, and "corporate related".

He also talked about the tax cuts and Democrats are worried about the possibility of pulling out of the Paris climate accords.


Trump tells business leaders he wants to cut regulations by 75% or 'maybe more'

President Donald Trump told business leaders on Monday he believes he can cut regulations by 75 percent or "maybe more."

At the White House with 10 senior executives, he repeated his campaign pledges to roll back corporate rules, arguing that they have "gotten out of control." A White House spokesman did not immediately respond to a request to elaborate on which rules Trump will target or how the 75 percent was calculated.

"We're going to be cutting regulation massively," but the rules will be "just as protective of the people," Trump told reporters at the meeting that included Tesla Motors CEO Elon Musk and Under Armour CEO Kevin Plank.

a reply to: xuenchen

How can you launch a "massive" de-regulation program, that is "just as protective"? Lol, have your cake and eat it too?

De-regulation of the financial markets almost collapsed the global economy (and still could at some point in the future).

"Word magic", a favorite tool by puppet-politicians and their spokespeople

I am noob with this sort of thing, but does it essentially means that there will be much less risk and much more chance of success when starting a business?

Why sure, let them do anything they want in search of the almighty profit $. No reason to regulate things, see billionaires will all do what's best for the middle class

Just remember than many regulations are supported by business to make entry in the market harder. The big guys will not likely support removing 75 percent of the regulation if it means they will face increased competition. You can bet they will spend millions lobbying congress against it.

a reply to: Kaploink


Hey, I patent that back in 1985, that will be $1000 please.

IF his administration ever provides a list of which regulations they want to eliminate and a reason why it would be beneficial to the US only then can I determine if it would be good or bad.

In other words "there is not enough info about his plan".

a reply to: xuenchen

Without knowing specifically what regulations are on the chopping block, I don't see how anyone can form an informed, educated opinion.

Trump tells business leaders he wants to cut regulations by 75% or 'maybe more'

The art of the deal.

Ask for more than you really want.

Making the other guy think they are getting a deal.

Yay, now shoot for 100% and we'll be on the right road.

originally posted by: Kaploink
Just remember than many regulations are supported by business to make entry in the market harder. The big guys will not likely support removing 75 percent of the regulation if it means they will face increased competition. You can bet they will spend millions lobbying congress against it.

Yeah, this is the dirty little secret. Business often lobby politicians for regulations under the guise of protecting consumers but really what they are doing is creating barriers to entry for their competition.

We have far too many regulations that do nothing but act as a tax on businesses. These bureaucracies often can't show any data where the regulations are actually benefiting the public.

originally posted by: eluryh22
a reply to: xuenchen

Without knowing specifically what regulations are on the chopping block, I don't see how anyone can form an informed, educated opinion.

Agree. My guess is he is looking at some environmental regs as well as regs on finance. Dodd-Frank has been a disaster.

originally posted by: iTruthSeeker
I am noob with this sort of thing, but does it essentially means that there will be much less risk and much more chance of success when starting a business?

Sort of. You could also argue that it gives you more freedom to severely screw up.

People who hold themselves to a standard will be more likely flourish. Those who cut every corner they can will be more likely to drown in product liability lawsuits.

a reply to: Grimpachi

The only thing regulation does is put people out of work and make products more expensive.

THATS why it's cheaper to make products in China and have them shipped back here.

Trump does cut it by 75% we can expect to see over 6% GDP growth.

originally posted by: damwel
Why sure, let them do anything they want in search of the almighty profit $. No reason to regulate things, see billionaires will all do what's best for the middle class

Who is crass enough to think they have the authority to place any obligation on billionaires to do what is best for anyone else but themselves?

The press conference just mentioned that regulations are a problem for competition !!

a reply to: EvillerBob

Me.

Do you think billionaire businessmen should be allowed to sell products they know are dangerous just to enrich themselves?

That is why some regulations are very necessary.

a reply to: FamCore

I guess it depends which regulations they remove, not all regulations have the effect of protecting the people.

the government has some pretty worthless regulations that serve only to cause more red tape and provide someone with a government job.

a reply to: JimSmith

they do that anyway even with all the regulations we have.

actually enforcing regulations is more important than just adding more regulations to try and compensate for the existing regulations that aren`t being enforced.

a reply to: Tardacus

Well-said. After posting I thought about it and you're totally right - because of the breadth and scope of regulations, there are any number of regulations that could be removed without having that effect