- Jan 23, 2014
- Reaction score
- Central Ohio
That has nothing to do with corporations being people, or not being people, does it?Correct. which is why the concept of 'limited liability' for businesses was heavily regulated by our founding 'libertarians', and only granted by state charterst o companies that served some public service , and not just to any idiot who had a filing fee. It is a subsidy, like a stop-loss position in the stock market, and it is now abused no end, nothing but a license to steal now. Shareholders have no responsibility for paying losses or debts of their 'corporate person', they can defraud with complete protection for the assets and cash they loot from their 'corporate person' and put in their pockets. which is why it's so popular with 'private equity' scams to make millions bankrupting sound companies. like GOP Hero Mitt Romney did for years. Wall Street's financial scams have sucked the life out this country, massively rewarding the unproductive and crooked at the expense of those are productive, and they hypocritically whine about the 'lack of a work ethic' in the U.S.Corporations are people. Show me a corporation with no people. Name one company that has no people at all. Good luck with that. That is what a company is... it's a group, or even one single person. You have a company of one person. But there is no company of zero people.
I already showed you an example of capitalist without political power. A student in high school, built a massive half billion dollar international company, with a $900 pickup truck, purchased using his income from his part time job.
I could list you millions of examples like that. Take a tribal people in the Congo, where they exchange mud bricks for food, in order to build bigger homes, and of course better arrows and bows to hunt with. That Capitalism.
Now if you are asking show me a capitalist society in which there is no government.... show many any society where there is no government? Even in tribes, you have a the head of the tribe that enforces the rules of their society.
Without some body of enforcing the rules, you have Somalia, with chaos, murder rape and thievery.
Even in communes, you have some body of people in the commune that enforce the rules.
But saying you need government to create Capitalism? No, capitalism is the default standard of all humanity. Go all the way back to the early times in human history, where farmers farmed the land, and exchanged goods for their produce. Capitalism was the defacto standard.
Socialism requires government to create it. Without government, socialism never exists.Corporations are people. Show me a corporation with no people. Name one company that has no people at all. Good luck with that. That is what a company is... it's a group, or even one single person. You have a company of one person. But there is no company of zero people. That's like saying a school's administration is a person because there is no school administration of zero persons.
Corporations aren't persons, and here's why we should care.
A corporation as a corporation exists for the financial benefit of its shareholders. It exists for profit. A corporation is indifferent to whether it makes its profit selling a better mousetrap or it makes its profit grabbing you off the sidewalk and harvesting your organs. Corporations don't have ethics. Certainly the shareholders and directors and officers do, sometimes, and a corporation has to comply with applicable laws, of course, but the corporation itself has only one value: profit. This is why the Citizens United decision was such a flawed decision. A corporation can "vote for" policies that no civic-minded member would support individually, so our political system is perverted by private profit, or, to put it another way, our political system is corrupt. And we see the results all around us.
Years ago, I was a sub-contractor, and I ran it as an LLC. I was not a corporation, nor did have a 'corporate person' ... yet I was using the limited liability function of the law. Has nothing to do with being a corporation, or being considered a person.
As for Shareholders have no responsibility for paying losses... I'm not sure how true that is, because if you remember when GM went bankrupt, the shareholders were wiped out. When a company is wiped out, they payout starting with secured creditors, then unsecured creditors, and lastly the shareholders.
If memory serves, the shareholders of GM were completely wiped out. They lost everything. My understanding was GM shares that were selling for $50 before hand, went down to zero. Or pennies.
I don't know how you can claim shareholders have no responsibility for paying loses, when they can buy thousands of dollars in stock, and end up with zero. That seems like a rather large loss to pay.
Wall Street's financial scams have sucked the life out this country
Funny, given we still have the largest economy in the world, with the highest standard of living. If you think this country has no life left in it, where is better? Denmark, where you live on a fraction of your income, in a tiny house, riding a bicycle to work because you can't afford to drive?
Where? Where is better? France, where a carpet installer was making barely more than a McDonald's employee in the US? Where they had mass protests over hiking taxes to pay for health care?
Where is better than the US, if Wall St has sucked the life out of this country?
No, that's wrong. Sorry, but you are wrong sir.