Capitalism is a human construct so like humans it too has flaws.
Jason Ericsson
11

The entire construct of a corporation giving it ‘human dimensions’ was not the greatest of ideas. The idea of limited liability for investment purposes has its place, but I do not believe the government creators imagined the sheer size and power of these beasts that exist today falling into the hands of a few managers at the top with few constraints and little legal likelihood of the shareholders holding them accountable. Now the government with its elected officials finds itself almost ruled by the large corporate money.

The solution is simple, but unlikely to happen. All corporations should become S-corps vs C-corps. In that format corporations do not pay income taxes directly, but rather produce a statement each year apportioning their profits to each shareholder who then is responsible for their share of the tax on those profits which would guarantee two things:

1] a distribution of enough cash to pay the tax which in turn would guarantee

2] a much greater interest on the shareholders’ part in corporate affairs including what officers are paid, how they are using corporate funds that might otherwise be channeled to profitability. LIKE FUCKING LOBBYING, corporate jets, fancy buildings……..

Of course politicians and heads of corporations would hate this because it would make a lot of their dealings transparent, and them accountable the the folks who they have a fiduciary responsibility to….what a quaint idea.

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