[FoRK] My sentiments exactly...
Adam L Beberg
beberg at mithral.com
Fri Jan 22 11:35:06 PST 2010
mdw at martinwills.com wrote on 1/22/2010 8:40 AM:
> Corporations are held a little differently than humans. You can sue a
> corporation similar to humans in the US Court systems. They are subject to
> the same laws as humans. Unfortunately some laws aren't applicable
The laws hold, but there is no risk of any punishment. A corp does
something bad like dumps toxic waste, they just dissolve the company and
reform a new one, no problem. All oil companies operate that way - in
fact each oil rig is a separate corp, if it blows up or spills just
shread a couple documents. Borrow lots of money, pay the
owners/employees, declare bankruptcy and walk away with the money.
That's how banks and hedge funds work. The list goes on, but the cycle
of form/scam/dissolve is the rule not the exception. There wouldn't
really be any other use for a corporation if it wasn't for this shielding.
Oh, and one more - no taxes. If you pay someone directly there are lots
of taxes, if you pay them through a corp, and they are paid through
stocks and options they pay almost no taxes - none if they have an
So it's a person, but with no punishment and no taxes. Pure awesome.
Adam L. Beberg
More information about the FoRK