Sunday, September 4, 2011

Corporate People

So, if corporations are people, does that mean a corporation can be charged with a crime? Lets say a company markets a product that injures or kills someone. Would that company be arrested and tried for murder, manslaughter, negligence, maiming or anything else? And if convicted would the company have to serve a prison term or, if in Texas, get the big needle?

Of course, you can't execute a company in the conventional sense, but you could put it out of business. Its assets and liabilities would be liquidated and its employees - all of them, starting with the CEO - would be fired.

If a company is a person, then shouldn't it be taxed at the same rate as any ordinary person, without all the incentives and deductions companies rely on now? No special deductions for "enterprise zones," no incentives to move into a new area, no depreciation allowances. For the record, I think I'm depreciating at a steady, sometimes alarming rate, and I want a depreciation allowance from the government myself. I know, I get a second exemption on my income tax when I turn 65, but as J.G. Wentworth's ads say, "I want it now!"

I'm just asking here is all.

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