Monday, May 08, 2006

More Government Reform: Disband SEC

The Securities And Exchange Commission could be eliminated without hurting public confidence in our financial markets. The internet makes all the relevant information readily available to individuals, the SEC is swamped and terribly inefficient at enforcement, and yet the fact that investors drop their guard because they have the illusion of SEC oversight leaves us ripe for victimization by corporate criminals. Corporate income tax elimination on the way to instituting the FairTax would also make corporate financial records easier to decipher because convoluted "tax planning" would no longer be necessary.