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Edited on Wed Aug-31-11 04:25 PM by Nuclear Unicorn
1) Actually, yes, you do have to register foreign corporations and operating a foreign-based business without a license can lead to some very serious penalties including asset seizure
2) That's embezzling but if a corporation is a person then you would essentially be stealing from someone else as you are not the owner of that legal entity.
Corporations are not people, per se. They are legal mechanisms that allow people to differentiate between their assets. In other words, if you form a corporation you designate which of your assets are part of that corporation, i.e. suppose you have a house and $200,000 in liquid assets but you only apply $150,000 in liquidity to the corp.
If you then do something for which you are legally liable it becomes a question: was it you our your corporation? If it was you personally you can lose everything; your home, your personl $50k in assets and your corporation. However, if your corporation is sued than only those assets are liable. The plaintiff can take all $150,000 in assets and force you into bankruptcy but he couldn't take your home or remaining $50,000.
Politically, people form corporations so that personally they can segregate their assets. There is no evil in this. MoveOn.org does this as well as many other good, solid progressive groups. Its a legal protection that shields indiviuals from malicious lawsuits.
My complaint with CU is that while people do have a right to pool resources for political speech and those people deserve corporate protections it leaves for-profit corporations a free rein to distort our supposedly representative government.
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