Tuesday, October 04, 2011

Isn't it tiem to simplify overly complex US regulation?

I see from today's news stories that the "U.S." is considered to have "won" three cases that even the courts described as "exceedingly complex": http://www.reuters.com/article/2011/10/05/us-tax-shelters-idUSTRE7940KU20111005

As you can read all about them at other places on the Internet, I won't bother to summarise them here, beyond saying that they represented THREE cases where some of the best-educated and most-experienced experts from some of the largest US commpanies thought they were doing something legal (so convninced that they were willing to spend the huge amounts of money and time that are now necessary to take a case to court in the US), which turns out not to be legal.

That should alert Americans to how difficult the entire system of law has become in the USA.

If the US could start simplifying the law and making it more clear and reliable, it would improve business confidence no end - specially at present, as the US has a window of perhaps three years in which to rebuild itself, or it will lose the chance for at least a generation. Sphere: Related Content

No comments: