Is the US GDP linked to fishing regulations slowing growth rate?

[Ratdog]

Has the US regulated the ability of its fishermen to help increese the GNP which hit a low of 0.01% for the first quarter.

Would easeing regulatory laws help the fishermen contribute to an increese in GNP?

[MathGeek]

Originally Posted by Ratdog

Has the US regulated the ability of its fishermen to help increese the GNP which hit a low of 0.01% for the first quarter.

Would easeing regulatory laws help the fishermen contribute to an increese in GNP?

Not really. Only declared commercial take counts toward GNP numbers. Recreational harvest does not count toward GNP numbers (though it certainly counts on our family's menu).

There are federal tax forms that are very specific to commercial fishermen. If someone is making more revenue from commercial harvest than they are declaring on these forms, then only the part declared on the forms is going to show up in the GNP numbers.

Decline in the commercial fishery numbers is related to numerous factors:

1. Other areas of national production are growing.
2. Commercial take is declining due to over regulation (Snapper).
3. Commercial take is declining due to habitat (Oysters).
4. Commercial take is declining due to fuel costs and cheaper imports (Shrimp).
5. Commercial take is declining for unknown reasons (Crabs).
6. Commercial take is declining due to market/business reasons (Menhaden).
7. Appearance of commercial take is declining due to tax cheats (just guessing). Stuff like Obamacare raises costs greatly for the big producers (like Omega Protein) who are more likely to use accurate accounting practices and pay all their taxes. This shifts production to smaller businesses which are more likely to have smaller cash transactions, less rigorous accounting practices, and less declared fishing income on the federal tax forms.

[TroutSupport.com]

There is a lot of ways fisherman contribute to GNP. We spend money on boats, gas, lures, food, bait, etc. etc. then to top it off, any lures mfg or imported add a 10% tax called an excise tax. I personally think that as much as we spend on boats, the fed should make lower interest rate loans available so we can spend more on boats... sort of like the interest rates on homes. Plus we all work harder and longer hours so we can spend more on what we love on the weekends.