Earlier quoted context omitted.
> Sure, how hard can it be to police the payment terms on every one of the likely billions of invoices out there and drag non-payers to court. Set a mandate for companies over a certain revenue size to maintain records, and self-report. Do spot-checks and fine a percentage of revenue. You understand the government already performs audits, right? > [bogus invoices will be a problem] A worse problem than they already a…
Much better to work within the confines of the existing legal structure, which has been hammered out over millennia and takes into account myriad edge cases and overlapping rights and concerns. Word-of-mouth, the small claims court, and careful cashflow management is sufficient for a small company doing business with large ones. What you're describing is an EU-style behemoth of a government, which isn't even popular…
This is weird. Any statute that passes in any legislature already amends the law.
> Word-of-mouth, the small claims court, and careful cashflow management is sufficient for a small company doing business with large ones
You are explicitly arguing that large businesses should be able to abuse cash-flow to the detriment of small businesses here, and we should regress to a situation where commerce is protected not by law but by reputation.
> What you're describing is an EU-style behemoth of a government
Did you know that in almost all rich countries except the US bank-transfers are essentially instant and free, explicitly due to government regulation?