In an article written Thursday, the CSMonitor reported on a story about a new California law that requires businesses to provide information as to "what they are doing to rid foreign suppliers of forced labor and human trafficking".
This law means well. Nobody is a fan of forced labor.
But why all the added regulations? Businesses are strapped for cash as it is due to a slumping economy and high taxes. Now businesses will have to submit the information needed to conform with this law. All the manpower, effort, and money that will be required to handle this will be sucked out of the economy into the hands of a few government bureaucrats that will administer it.
People get into business to a) make a profit and b) because they enjoy what they do. Added regulations like these take away from some of your profit and keeps businesses from enjoying what they do.
I am not even sure this law will even have much of an impact on forced labor. Many businesses might just move out of the state. Others will rely on information from their foreign suppliers who will cook the books anyways.
One of the members of our group made an interesting comment to our post. "What about illegal immigrants?" Illegal immigrants undermine our workforce and drive down prices. It would be more beneficial to crack down on that than something the businesses have little control over.