Saturday, December 6, 2014
If People Were Corporations
Since companies are granted the rights and privileges of citizens then it would follow that people be given the same rights as corporations. The fact is American corporations have rights and privileges that people would love to have.
From a financial and economic perspective: People pay taxes on their world wide income. For instance if you did work in Canada or Mexico you would be required by law to declare that income and pay taxes on it. American corporations are not required by law to pay taxes on their incomes providing they don't bring that money back to the US.
According to Martin Sullivan the chief economist at tax analysts, if people were treated like corporations I could set up and affiliate and call it El Rondo Corp Mexico have it pay my college tuition and then declare that the affiliate owns the owns the resulting degree. I could then tell the IRS that everything I earn above the average high school grad's income should be recorded and income in Mexico, since it is all derived from a Mexican based asset.
On federal income tax forms individuals can deduct sales taxes they paid or state income taxes they paid but not both but companies can deduct both.
As to gay marriage: If people were treated like corporations we would be able to "merge" with whomever we want with no concern about restrictive marriage laws according to UCLA law professor Adam Winkler.
Here's the best part! Even if you stole a house, raided pension funds, killed someone, funded a genocidal regime like big pharma or terrorized the global economy you wouldn't go to jail.
Related: Ever since Citizens United, the Supreme Court's 2010 decision allowing unlimited corporate and union spending on political issues, Americans have been debating whether, as Mitt Romney said, "Corporations are people, my friend."Jun 30, 2014