Sunday, August 14, 2011

WTF? Corporations are people too?

Why are corporations formed in the first place?
Forming a corporation limits the amount of legal liability for the owner of the corporation for the corporations business activities and debts. In the eyes of the law, a corporation is a separate entity.
So, if you want to eliminate potential personal liability in your business,...INCORPORATE
If you fail,..it's not you that fails,..it's the corporation,...if you default,..it's not you that defaults,..it's the corporation! Say, someone tries to sue you and attach your assets,..they cant attach the corporate assets,..because they arent you!
Yes,..there is that little pesky double tax issue,..the corporation is taxed and then the shareholders are taxed on the dividends they derive from the corporation. But  that only happens with really big corporations,..and not Mom and Pop who incorporate the grocery store,..or the farm. Like everyone else,..they pay taxes on the salary that they make,..not the dividends that large profitable corporations pay out. And, those stockholders that pay taxes on their dividends,..should pay taxes on the income they derive from their dividends. It is income,..and the IRS does collect income taxes,..right?

That said,...
Mitt Rommney,. my irritation with you, as well as a number, if not most, Republican frontrunners for the nomination is this,..not that you prioritize corporate rights in your platform,..but that you fail to recognize, individual rights. Mom and Pop,..with kids, bills, and a mortgage. Instead you equate corporations to people,..and that's a stretch,..at best.
Too many people in this country have lost their jobs because the corporations you protect are outsourcing their labor to foreign countries, or they have downsized and have actually increased their income in doing so. Other's have lost their jobs because of the unfair trade practices of other countries. Bottom line, is that the American People,..want to go back to work. That's what you need to focus your campaign on.
Forget that,.."lowering taxes increases jobs". Since Bush cut the taxes the unemployment rate has soared. It didn't work,..it was a theory worth trying but it didn't work,..so hang that up. If you want to be my president,..show me a plan that will actually reduces the unemployment rate,..which, because people pay taxes only when they work,..that will increase the overall tax revenue. At some point in time you were elected to public office because people thought you were qualified to find solutions to their problems. If you want to be my elected official,..I want to know how you are going to solve my  problems.
You said that corporations "were people too",..well, so are the unemployed. See their faces,..and needs,..solve their problems and the rest of ours at the same time. Stump for potential constituents,.not potential donors. Your thinking in recent speeches is an example of what's wrong,..the fact that you and your advisors fail to see that,..is sad.


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