I see various candidate web sites and television commercials talk about reducing regulations on businesses. They claim by reducing regulations the marketplace will foster the development of more businesses.
Following are a few samples from various candidate web sites:
“I want government to step back and let businesses do what they do best—create jobs and services. I believe less regulation and interference will empower our Missouri businesses to thrive.”
We’re Fed Up with a large intrusive government that tries to regulate every aspect of our lives and thinks that it has a right to take as much of our money as it wants through higher taxes.
How can Washington help create new jobs on every Main Street? By reducing the tax burden and heavy-handed regulations on job creators.
The three quotes are from three different candidate web sites (all three candidates are running for political office in Missouri – state and federal positions). None of them say which regulations they want to see change or eliminated.
I want a candidate who talks about reducing regulations to be honest and tell me which regulation(s) should be changed or eliminated.
I have closely reviewed a number of state regulations and I can point to one that should be reviewed. It is CSR 10-104.020 Sales and Use Tax Bonds (click on it to go to web page). This regulation requires all new taxpayers applying for a retail sales tax license or vendors use tax license to file a bond in an amount determined by the Director of Revenue. The bond may be a cash bond, surety bond, certificate of deposit or an irrevocable letter of credit. The department will refund the bond to the taxpayer after two (2) years of satisfactory tax compliance or when the taxpayer closes its sales/use tax account, provided the account has no outstanding delinquencies.
The problem with this regulation is it can possibly hinder a business from being able to open if the bond amount is set to high by the Department of Revenue. The bond is calculated to be three (3) times the average monthly tax liability of the taxpayer. I believe the rate for bonding should be reviewed by the legislators to see if it is too high. Unreasonable startup overhead costs can stop a new business from opening.
I have showed one regulation I believe hinders the growth of businesses. As your State Legislator I will work to seek out others that need to be reviewed.
If a candidate uses a “sound bite” to catch your interest but does not give you facts to go with it, I say “Where’s the beef?”
Here is a link to the State of Missouri Code of Regulations: http://www.sos.mo.gov/adrules/csr/csr.asp. Please look them over and let me know if you find one that should be reviewed.
Bob Rubino – Candidate for the Missouri 139th Representative seat