How Changes in Accounting Standards Threaten Your Freedom
This is the most exciting discussion about accounting I’ve ever heard.
There is a confluence of interest leading to:
- our surrendering the power to establish accounting standards to an international body
- top down enforcement of standardized accounting standards
- devilish details which will tax businesses even more — Obama’s budget already project over $50 billion in increased tax revenue
- less transparency for international corporations — which will likely be an excuse for the government to take an even bigger policing role in the future
- even more obstacles for small businesses who want to compete with big corporations
- a lower standard of living
The interests are as follows:
- Academics who like things standardized and centralized, and think, like Lenin, that the entire world should be run like the post office
- International accounting firms who will make a bundle as the world
- The government who will be able to wrest even more wealth from the people who actually produce things
- International corporations who will have yet another government-imposed advantage over small businesses
