Greater Cheyenne Chamber of Commerce Business Journal Q2 2014

Business Journal Issue Sponsor: Capitol Properties Ask the Expert: Why is Lawsuit Abuse an Issue for the Business Community? Orginally published in the Legal Reform Report Published by the U.S. Chamber of Commerce The United States is the world leader in lawsuits, which cost the U.S. economy $264 billion per year – or about $850 per year for every man, woman and child in the United States. That hurts families, businesses, local communities – and America’s ability to compete in the global economy. While the United States as a whole shows high numbers for lawsuits, Wyoming has a positive rating. In 2012, Wyoming was ranked 3rd in overall legal climate right below Delaware (1) and Nebraska (2). Overall treatment for Tort, Wyoming ranked number 1 in the “best” category.” Performance compared to other states Wyoming was rated high with in top ten for an exception of 13th place for “Jury Fairness”. View the full report by visiting instituteforlegalreform.com. Overregulation Keeps U.S. From Rising in Economic Freedom Rankings Orginally published in the 2014 Index of Economic Freedom, www.heritage.org The United States saw its economic freedom score decline last year, yet was able to maintain its position as the world’s 10th freest economy, according to the 2013 Index of Economic Freedom produced by The Heritage Foundation and The Wall Street Journal. The burdensome regulatory system is the main culprit for the falling score. “[O]ver 100 new major federal regulations have been imposed on business operations since early 2009 with annual costs of more than $46 billion,” states the report. With a host of proposed regulations in the pipeline for 2013, I won’t be surprised if this drags down our score next year. Government spending and fiscal freedom also contributed. The report notes that the United States continues to have a 35% corporate tax rates—highest in the world—and the federal government continues running budget deficits over $1 trillion annually. Globally, PG 46 l Bills, Amendments & Business economic freedom barely budged with the world average score rising only one-tenth of a point in 2012. The top five most-free economies didn’t change from 2012: • Hong Kong • Singapore • Australia • New Zealand • Switzerland

Greater Cheyenne Chamber of Commerce Business Journal Q2 2014 | Page 46