John, have you factored in the costs of reducing environmental, economic and social regulations. How do you account for the external costs of reducing regulation, such as increases in health care costs due to increased pollution or loss of productive fisheries due to unregulated agricultural runoff. Let's factor in the cost of the GFC, which came about partly because of inadequate regulation. In case after case the costs of reducing regulation far outweigh any short term savings to our economy. While you say we need "some regulation", you fail to elucidate what regulation and how it will affect the bottom line and what the external costs of reducing said regulation would be.