At the first meeting of the Trump Leadership Council — an advisory group consisting of top CEOs from major companies — President Donald Trump asked these business leaders what was their biggest problem. I expected the answer to be America’s anti-growth tax system.
The CEOs almost all listed the federal tax code as an albatross, but not the heaviest one. But I was surprised to learn that most insisted he biggest restraint on growth is federal red tape and regulation. Manufacturers, energy firms, financial services, agriculture interests — across all industries — federal rules were seen as mindless, inefficient, costly and incomprehensible.