[FoRK] My sentiments exactly...

mdw at martinwills.com mdw at martinwills.com
Fri Jan 22 14:32:24 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
> accountant.
>
> So it's a person, but with no punishment and no taxes. Pure awesome.
>
> --
> Adam L. Beberg
> http://www.mithral.com/~beberg/
> _______________________________________________
> FoRK mailing list
> http://xent.com/mailman/listinfo/fork
>


Not sure I can agree with your last statement... Exxon has paid in excess
of 4 Billion Dollars to clean up the Valdez and paying various other fines
and civil penalties.  My local Wal-Mart paid my city $800,000.00 in sales
taxes for the year 2009.  I also remember hearing about Arthur Anderson
being forced out of business because of the Enron debacle and Enron's
seniors officers being put in prison...

--Martin--



More information about the FoRK mailing list