Stossel: Trump’s Deregulation

Stossel: Trump’s Deregulation


We have undertaken a historic effort to massively reduce job-crushing regulations. Sounded good to me, but the media says Trump is wrecking America. This is a very big deal. The Environmental Protection Agency just rolled back Obama-era climate rules. He singlehandedly led the world down a dark path. His proposal is literally insane. We’re told his deregulation is an attack on the environment, that workers health, safety, and pay are casualties, and even that Trump is trying to kill us. Now Trump has cut regulations This is where we were in 1960. He promised to shrink the regulation rulebook back to the size it was 58 years ago. We will have a great regulatory climate. One. Two. three. [applause] The day he got elected, you saw the stock markets swing up. Grover Norquist runs a group that fights for lower taxes and fewer rules. Trump sent a message to business: we’re not going to crush you, and that’s caused growth. That was the beginning of a recovery. In the 48 hours since Donald Trump was elected to the Oval Office, the stock market has rallied, reaching new heights. And the Trump administration has repealed lots of rules, for example… Waters of the United States. We’ve got to protect waters of the United States. Sounds good. They were including little trickles, the kind of ponds that spring up when it rains a lot one night, and then it goes away the next day. They were using it as land control. Land control can crush people. Jill and Jack Barron were encouraged by Idaho officials to clear a drainage ditch, but when they did that, federal officials went after them, fining them thousands of dollars. 37,500 a day Until the Barrons had to sell their home and move into this trailer But now thanks to deregulation, they can use their land again. Good. But other repealed rules sound important. The names for all these regulations are written by the regulators. They’re advertisements for themselves But unlike many advertisers, regulators don’t list the side effects Some people have had changes in behavior, hostility, agitation May cause unemployment, may reduce wages, may raise the cost of energy, may make your car not drivable. [CAR NOISE] Well, its drivable, but smaller because the Obama rules would have forced car makers to nearly double gas mileage, and more people are killed in smaller cars Should the government tell you what kind of car to buy? Should they? And that’s what the regulation does. Now California regulators have made a deal with 4 automakers to keep the Obama rules, in effect telling Californians, some cars you cannot have. Net neutrality for everyone Trump’s FCC also ended “net neutrality” rules. They were going to turn the internet, which is a free, largely free, and open operation into a government regulated utility monopoly When Trump repealed that, people said he was Handing the keys to the internet over to a handful of multi-billion-dollar corporations Bad things were going to happen. They were going to charge you to do this, that and the other thing. The companies would send your emails slower than somebody else’s. None of that’s happened. None of it. None of it. None of it. The 2 for $5 mix and match deal from McDonald’s is back. Many regulations were repealed that few people know about. One would’ve treated franchise companies like McDonald’s as one single business. Why? The trial lawyers want to be able to sue all of McDonald’s, not just the local McDonald’s, if they spill coffee on themselves. And the labor unions wanted to unionize all of McDonald’s, not just the one store. That would have been a disaster. That was ended. Deregulation. It’s when we remove those bad rules so that corporations can maximize their profits. Ha ha! People think Trump is destroying the workplace and the environment. If you get your news from late night comedy shows, you think that deregulation is bad for the economy and bad for the environment. In point of fact it’s good for the environment, it’s good for jobs, it’s good for people having more wealth. But we want the air to be cleaner. The air is getting cleaner. It’s dramatically cleaner. It is. Mostly because of EPA rules passed decades ago… and every time someone replaces an old car with a new one the air gets a little cleaner. Now climate change and whether we can do anything about that is a separate debate, but when it comes to clean air Trump’s undoing of Obama’s ever-stricter standards just returns us to the rules in effect during the Clinton and Bush years. Were you coughing then? No, but the media won’t tell you that. President Trump has liberated American factories from the scourge of pollution rules. [coughs] Lost in the coughing is the unfortunate fact that Trump is adding regulations too! It’s all about “made in America” Now government agencies have to buy more American made stuff. That sounds like a good idea, but it’s a dumb idea and I wish he hadn’t done it. That is not deregulation. That is regulation. Stocks tumbling today Markets that rose when he was elected have dropped as Trump’s tariffs punish American companies that buy steel and consumers who want things like washing machines and solar panels. There is a challenge. Trump is a protectionist in many ways. And then I can always do much more or I can do less, depending on what happens with respect to a deal and tariffs are taxes and regulations on the border, are regulations on consumers, and frankly it hasn’t cost our consumers anything. It costs China. The good news is, the vast majority of the regulatory acts by a factor of many have been deregulatory and they have been tremendously helpful And yet with all this publicity about Trump deregulating, he hasn’t done that much. He’s done a great deal more than anybody in recent history, maybe even more than Reagan did. We have cut 22 regulations for every one new regulation. Think of that one He exaggerates, as usual. The real number is about 5 repealed for every new one passed. But that’s still pretty good. He’s loosened all these rules. It’s good whenever excessive regulations are cut. Regulations are like taxes. They take choices away from … the government takes your money. You don’t get to decide what to do. You have to go work more hours, spend less time with your family, less time of things you want to do. They take your time. [Thud] They cost us money, [Thud] deprive us of opportunities, [Thud] they take our freedom. [Thud]

About the Author: Michael Flood

100 Comments

  1. I disagree on tariffs. You see China is not a friendly country. If China invades Taiwan and we enter WWIII, you wouldn't do business with China after that would you?

  2. Grover Norquist and Newt Gingrich are the bastards that sunk President Bush's second term, screw that pair of shystie bastards.

  3. Yeah but the problem is that the people he appointed to run these regulation agencies are former employees of the very companies they’re supposed to regulate. Basically, it’s a corporate takeover of the federal government. If that isn’t corruption, I don’t know what is

  4. I dunno man, I mean it's not like the Republicans just rolled over and let them regulations get put in place; there's always a lot of sick and dying people or critters going on long before we get one of them regulations to begin with y'know. You can't fish the Mississippi anymore because of those damn de-regulated flying carp infesting it and Trump done cut all the containment on that so kiss away your favorite fishing hole soon now too entire Great Lakes area. Invasive species running rampant now that Trump done cut the breaks on that shit.

  5. Every time Stossel mentions tariffs, he implies that they are bad. The problem is, protection against unfair foreign intervention is merely a protection of the free market principle and not of American business. If China subsidizes their steel and we impose a tariff on it, all that has happened is that (roughly speaking) the Chinese communist government is paying us tribute. They haven’t subverted our factories or benefited them. Like cocaine smuggled in beanie babies, they send us money hidden in their steel. I’m ok with that line. Stossel should be too.

  6. So let me get this straight. The regulations are good if they were passed in the 70s but they are bad if they were passed under Obama. Is that what I am getting here???

  7. Much of what we have for regulations must go, HOWEVER we could use some additional regulations that prevent scumbags from cheating on capitalism. Hiring foreign when they should be hiring American, for example, or doing things like selling AI to the Chinese so they can threaten Congress. I'm looking at YOU Google! We need additional regulations that keep Universities from being leftist indoctrination centers. We also need regulation of Big Tech when it comes to free speech. Even one incident of unequal application should cost a billion dollar fine.

  8. The Net Neutrality point misses the issue. Net Neutrality was necessary because of other regulations at the state level, which granted statutory monopolies to internet service providers (especially cable companies) that led to numerous abuses, such as charges for using their service that didn’t cause any marginal cost (ex: data caps, to bandwidth caps), prevented completion so that in essentially all areas its unlawful for a competing cable company to operate as opposed to phone companies, active filtering and monitoring of users actions and then selling that to advertisers (Verizon especially). What’s the market solution to these problems? There isn’t one, cause of state monopoly laws that grant exclusivity. The FCC could have preempted those rules (and that’s what they should have done), but the Net Neutrality rule was the other way, and it needs to be understood in context.

  9. 3:34 The lady that spilled coffee on herself got 3rd degree burns because McDonald's required franchises to server coffee at 180 F. The franchise was not at fault. Therefore corporate McDonald's should be held liable. It was anything but a frivolous lawsuit.

    https://en.wikipedia.org/wiki/Liebeck_v._McDonald%27s_Restaurants#Trial_and_verdict

  10. Like negotiating with North Korea, deregulation is one of those issues where if you support it you should oppose it. Meaning: if you think it is important for this to happen and you truly care about it, the last thing you should want is for it to be done by a senile moron who screws up everything he touches. Just sit tight and wait for President Amash, or some other intelligent person, to set some rational priorities and then get down to the business of deregulating our industries in a logical, planned way.

  11. When assessing Trump's deregulation report card, one must examine which repealed regulations are significant and which are minor. The same applies to any new regulation Trump enacts. It isn't unreasonable to expect that one new regulation is more degenerative than the five repealed regulations that accompanied it. I have heard other prominent libertarians say as they tally up all of Trump's taketh and giveth policy procedures, Trump's record on regulation reform amounts to a wash.

  12. Seriously.

    At 4:20 they say the air got cleaner because of epa rules passed decades ago.

    Wouldn't epa rules be classified as regulations? So regulations were good in that circumstance?
    Please explain

  13. “He exaggerates…” lies. The word you meant to use was “lies.”

    If a toddler with a pistol stops a home invasion, you still want to get the damn gun away from the baby once you’re done applauding.

  14. Colonrado (Colorado) has become more like Colonfornia (California) by adopting the Golden Showers State's emission laws, and on top of that are going to force new car dealers to stock somewhere between 5% – 8% of their inventory in EV's whether the dealers can sell them or not by the mid 2020's.

  15. I agree with everything but net neutrality. Just because something hasn't happened yet doesn't make it false. In Portugal and other nations you have to pay a fee to your ISP to use a certain app. I personally believe that internet is integral to free speech, and to allow corporations to control speeds for different websites depending on content, is clearly unconstitutional and dangerous.

  16. Stossel.. nice one sided report… with a lobbyist.. way too go… just one example.. USA not even top ten in download speeds and affordability… think that is going to change now? why? when corport's can sell slower speeds at higher rates… yeah corporations!

  17. I agree with everything in this video except the criticism about tariffs. First, if no country had tariffs then we shouldn’t either, but they do. Second, we import more than we export so tariffs imposed by the US don’t hurt us as much as they hurt the other country. Third we already have low unemployment and the usual argument is that tariff wars hurt our employment but not in this economy. So, under other circumstances tariffs are bad but under these economic circumstances they are great!

  18. There should be a law that for every new regulation they pass they have to remove 3. Then they'll have to decided which ones are worth it and which ones are not. Not just abuse power.

  19. I would actually prefer regulation on internet and have protections for it rather than leaving it up to the providers. Seeing what has happened to wireless/telcos, the internet could be ruined.

  20. Glad to see you're still with us. I was worried that Mrs. Clinton had saw your shoot, shovel and shut up episode…and took some arkanside action out on you.

  21. If Trump is good for the economy how do you explain tariffs? They never work without us paying for it. If he wants to help then stay out of the way and leave us alone. Now he could help by 1) end capital gains do people can hang on to their money, 2) end inheritance/death taxes, 3) end corporate taxes which we pay for anyway, 4)sunset the IRS 33% each year while simultaneously decreasing spending/budget
    by the same amount

  22. I'd like to see a video where Stossel points out the ways libertarianism can be harmful just to be a devils advocate.

  23. The cost of tariffs is far broader than the benefit of the deregulation we got. I'm hard pressed to cheer for his deregulation while he pushes mercantilism out of the other side of his mouth. Deficits and trade wars are the only things going into the history books for this president… Along with a million incoherent Twitter rants. Sorry. I'm not settling. I want deregulation, lower taxes, much less spending and free trade. I know it's a lot to ask for.

  24. Reminds me of when I visited my Dad in Germany… An inspector stopped by to check the moisture content of his firewood… If it was too high, he would have gotten a ticket. Showed up at his house unannounced to inspect the property… All because of "pollution"

  25. Honestly I think the Republicans and libertarians got hijacked on the net neutrality thing.the thing about net neutrality is there was initially an argument saying hey there a common-carrier either there are common carrier or they aren't. That was net neutrality.then the hijack became hey do you want the government controlling it through a federal bureaucracy or do you want big corporations and all the left us were like EA the government and all the libertarians and the Republicans were like "and no the corporations". that was a false dichotomy and neither of those represents net neutrality both of those are controlled internet. Net neutrality is a very simpleconcept if you want to be a publisher the curator content than you're liable for your content if you don't then you must treat all content equally in order to get common-carrier protection from liability that simple no regulation required just a simple rule about liability. that and contract law is relevant when companies are violating their contracts with their users again no new regulation required . simply enforce contracts through ornate action in the courts.

  26. “Repealed emission limits for new coal power plants” nothing good can come from that one in the long run. What, more dependent coal workers? It’s to bad they choose a dying career.
    And your argument about “were you coughing then under the Clinton -Bush era” is plan ass retarded. So many more factors go into the increases in pollution. A law to limit the how much we pollute surely did not creat that. Don’t mix up causation and correlation, dumbass

  27. Since the beginning of time, one human has wanted to control other humans. Its animal instinct. President Trump is rolling back this control. President Trump is freeing the people. The regulators create regulations simply to justify their jobs. The people have no means to fight back. Thank you President Trump!!!! Made In America helps ensure that people are employed. Employed people pay taxes. Employed people are taken off welfare and food stamps. In other words employed people contribute rather than become a burden on the taxpayer. The side effect is higher prices for Made In America. Do you want cheap products or full employment? There is no free lunch. You can pay $.02 more for your iPhone cord or you can pay for other peoples welfare and food stamps. The choice is yours.

  28. TRUMP has done, and is doing, much better of a job than many of the past presidents combined! We need less “career politicians” and more working Americans in those offices. It appears most of our politicians are WHIMPS and just IGNORANT to what their constituents actually want and need!

  29. China has been stealing US intellectual property without penalty for decades. In addition, they block US products and US companies in China, while selling here in the USA. The Tariffs are long overdue.

  30. Great vid, great vid indeed. Although, I'm slightly disappointed because it was a bit one-sided. The thing I love Stossel's work is considering both points of view.

  31. This one sided, I thought this was reason tv and you interview the most militant anti regulation person that forced a pledge of alligence against taxes and denounced those who didnt take it.

  32. THE NET NEUTRALITY …. none of it happened, HAS HAPPENED!!!!! I've tested it out already multiple times. Run a VPN and max speeds, turn off the VPN and visit youtube and limited speeds(measured using stats for nerds and also my own bandwidth monitor).

    Stossel didn't do very in-depth research on this segment 🙁

  33. Obama's climate rules have not had any effect on CO2 level, if they had, Activist Occasional Cortex would not have had to threaten the cpounry with the green leap backward. Which, btw, is intended to de-green the country/world. At th cost of economic development, which so many yearn for, since the government-caused housing crisis got them living on the street.

  34. Young Turds, CNN…
    LOL, no one respects the Just Us Democrats, and people with a brain know not to stick to one news source, especially CNN

  35. "Everytime someone replaces an old car with a new one the air gets a little cleaner" ignoring the fact that half of a car's enviormental waste comes from producing it. Its more enviormental to keep an old car than to buy a new tesla.

  36. Trump makes it hard for me to vote for him because of all the stupid shit he says, his narcissism, his comments on the Federal Reserve to take interest rates down to 0, and his tariff policy. But I'm going to have to pinch my nose and vote for him anyway because the left is scarier than the bad orange man.

  37. I live in the great blue state of Washington (read sarcasm in that statement). The regulations that democrats consistently put in place make it really hard to start and run businesses. Here is an example. Say I was a motivated young person who loved working on cars but had a full-time, low-end job. If I wanted to start a side business at home, buying cars, fixing them up, and then selling them, I literally cannot do it; it's illegal. State regulations are in place that require me to have a commercial building, that my business have hours from at least 10 AM to 4 PM, and that I be open at least five days a week. In other words, no one can start a car business in Washington unless they have significant capital UP FRONT! No matter their skill, talent, or work ethic.

  38. Unless you could learn all of the laws and regulations of a country in a few weeks, you have too many. You shouldn't be afraid to do things because you don't know if it's illegal or not.

  39. Our corrupt President has deregulated most of our institutions to the point where corporations are basically in charge of regulating themselves. MONEY MONEY AND MONEY IS IN CHARGE NOW.

  40. Anyone who has heard of the water cycle understands that water systems are connected: ground water, runoff, evaporation, leaching. A pond that’s there one day and gone the next doesn’t magically eliminate pollutants that were dumped in it. It evaporates, drains into nearby waters, leaches into the soil and ground water.

    The EPA’s regulatory power lies in the “interstate commerce” clause of the Constitution, and not in any common sense conservation, environmental, or health standards. In other words, if you own a well, the EPA can’t protect you when a business dumps its waste into your drinking water.

    Trump threw out Scalia’s interpretation of “direct connection or significant nexus with a navigable waterway,” meaning the EPA can only set minimum standards for waters that you can fish, swim, or ride a boat on (most states have tighter regulations than the EPA).

    They can’t even regulate runoff of toxic pesticides, which cause eutrophication, illness, and degrade costal ecosystems, because “rain” is not a navigable waterway of the United States.

    Destroying wetlands (which are vital for flood control), polluting ground water, ruining ecosystems. These are all measurable, uncontroversial, and easily preventable issues, unlike carbon emissions.

    As much as I like corporate profits and shareholder dividends, there are some things (such as the environment) that don’t have a representative market force. And generally people (and businesses) are too shortsighted and selfish to not ruin our natural resources.

    Think of the average idiot at the DMV. 37, rotten teeth, emphysema, high cholesterol. That’s who you’re entrusting with your drinking water. It’s that person’s market choices that determine your health if not for sensible regulations.

    Don’t take the partisan bait. Just use your common sense. And if you disagree, have the decency to respect others’ concern for the environment.

  41. EPA has put very strict laws on new diesel trucks, people can no longer remove the emissions even if the vehicle is a total off road/private property use vehicle….

  42. Usually Stossel is able to make a more persuading argument, but he gives little examples and doesn't provide a lot of evidence. I'm too lazy to seek it out myself, but I think he could have done a better job.

  43. We need private property rights back…and need them back yesterday. I am glad to see the median income up nearly $5,000 and the unemployment rates at such an all time low.

  44. Wow Stossel sinks to a new low, he interviews the devil and doesn’t challenge him at all. The whole Net Neutrality thing made me laugh. Reason is owned by the Koch family, Nuff said.

  45. "internet into a government-regulated utility, monopoly" Well the Monopoly part is flat-out WRONG, or even to the degree of the opposite even being true. He's absolutely crazy to say that part.

    The rest is just highly misleading/slanted. Having Internet be a utility makes 100% sense. Water, electricity, natural gas, telephone, that's all utilities. Why shouldn't internet data be treated the same way? Net neutrality is not about forcing websites or web services to change, it's specifically about providers giving access to data lines the same way as power lines and water lines. People can do what they want with their data, people can do what they want with their water/power/natural-gas.

    WITHOUT net neutrality, ISPs could reduce or cut off your internet if you were doing things with the data that they don't like. That's the opposite of freedom [for consumers]. That's freedom of big companies to force their consumers to do their bidding. There is no reason at all that ISPs should be able to reduce your data because you're using it in a certain way, just like electricity companies shouldn't cut your power if you're using it in a way that they don't like.

  46. "deregulation is good for the environment" Hell no. What kind of absurd proof does this guy supposedly have for such a claim? It certainly wasn't mentioned in this video. Like I can't think of anything else to say except "proove it, proove it, proove it, proove it"; it's completely absurd.
    They even specifically DISAGREE with that statement by talking about how the EPA rules have made the air cleaner. Also note how they're referring to "clean air" rather than emissions in general, as if setting up for the statement that AGW isn't a problem (or doesn't occur).

  47. Regulations do not just take away freedom. Oftentimes they protect freedom. Net neutrality is an example of that. It prevents the billion dollar corporations from manipulating the users. Yes it takes away freedom, but it also gives freedom. It takes away the freedom from the controlling companies and give it to the consumers.

    Regulations for food give people the freedom of living rather than dying to toxic additives. Regulations on behavior give people the freedom to say what they want without other people stabbing them for it.

    Even when a regulation does only reduce freedom, giving freedom isn't always good, since freedom can be used to do greedy, harmful, and otherwise problematic things.

  48. Regulations are like taxes: they take choices away from us, don’t allow us to do what we want to do, and take our time. They cost us money, deprive us of opportunities, and take our freedom.

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