Recently it has come to the publics attention that the Federal Government has planned on revising how it collects business accounting information from small businesses. The government defines a small business as: "One that is independently owned and operated and which is not dominant in its field of operation." Going by this definition almost every business falls under this heading. The expansion of Federal powers has continued to increase under the Bush Administration, into more areas than any republican may have expected when he was elected. This is only the latest in a series of public developments that call into question how seriously any modern administration can refuse to tamper with the American business system. One of the obvious consequences of any meddling with the tax code, business structure or accounting and reporting regulations is the reduction in ease with which any person, or group can enter into the entrepreneurial sphere. From the standpoint of efficiency and law, you would expect the IRS and others in the federal bureaucracy to want an absolute reporting system. But at the expense of new job creation such measures may only cause a decline in new ventures. At the heart of such top-down proposals is a confidence and support in large businesses. Even though small businesses are the majority of ventures, and excel at innovation and creativity. Any increase in regulation, by definition may cause a reduction in such business formation.
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