| Comment Number: | 522418-04696 |
| Received: | 6/28/2006 12:06:27 AM |
| Organization: | World Wide Group |
| Commenter: | Jay Anderson |
| State: | MT |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
I am very concerned about the FTC's proposal to add many layers of government intrusion into small business. As a Quixtar IBO since inception (along with 16 years prior involvement with Quixtar's parent company), I have had the opportunity to work with people from all different walks of life. Many of these people were small business owners that had grown tired of the increased overhead dictated by government involvement in their industry. They were quick to appreciate the opportunity to build a small Quixtar business and not have to allocate large amounts of time to government "compliance". My professional experience in the arena of Qualified Retirement Plan Design has allowed me the daily opportunity to see the hundreds of thousands of pages of Internal Revenue Code, up close and personal. It only makes sense that you have that level of scrutiny when you are dealing with those levels of financial involvement. Perhaps the law should reflect the investment that you have at risk. The more dollars you have at risk, the greater the government involvement in order to protect the consumer. (To be honest, I even have a hard time granting that point). But surely, it defies reason to add the level of compliance that you are proposing to a business opportunity that often involves an upfront investment of less than $200. I can't tell you the number of times I have witnessed a client shut down his retirement plan because it became too costly to maintain. That kind of "dis-incentive" due to government "compliance" should be avoided at all costs. I speak out in an effort to keep the very same thing from happening in this industry. For this country to be strong economically we need to encourage small business, not hinder it. There are many opportunities to monitor this industry at the corporate level, there is NO NEED to attempt also to micro-manage it from the consumer level. Jay Anderson