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Reply #13: corporations are "persons", not "people" and "people" have bankruptcy protection, too [View All]

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unblock Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-13-10 02:31 PM
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13. corporations are "persons", not "people" and "people" have bankruptcy protection, too
investors' liability in corporations are limited to 100% the funds they invested in the corporations.
the limits on liability for actual people is different, but in some states you can't lose your house, e.g., or your retirement funds, or certain other income streams.

the concept that corporations are "persons" has limited applicability, it's not a broad statement that they're equivalent to "people" in every last detail. they have rights to sue in court and so on. and now they have the right to engage in unfettered bribery of public officials.

corporation don't have more "rights" than people, they've been granted certain additional privileges by acts of congress, e.g., the ability to avoid taxes on brazillions of profits.


incidentally, anyone can create a corporation for the appropriate filing fee. you, too, can create a corporation and go buy a few public officials. you just need to find the funding for your corporation. but then, that's business!
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