Originally published at: https://boingboing.net/2018/08/24/siege-of-londongrad.html
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It struck me that one way to put a stop to a lot of money-laundering and tax “avoidance” might be to make it illegal for a company to own stock in another company: only natural persons could own stock.
Obviously that’s never going to happen, but would it work? And would there be downsides? I mean for your average person in the street, not your money-launderers, tax avoiders, and other piratical capitalist types.
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Since a company is just a collection of people, what would stop a person who is a member of a company from owning stock on behalf of that company?
But it isn’t, though, is it? Not in the same way that, say, me and a bunch of my friends are just a collection of people. It has its own legal personality, to the point that the debts of the company are explicitly not the debts of the people who own stock in it.
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There will always be places with shady banks and minimal enforcement. May as well be Britain, right? Pretty soon they won’t have anything else to export. They’ve been Made Great Again.
Marmite. We’ll always have marmite.
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Personal responsibility would be a good start!
That a company or corporation is simply a group of people is the very principle which gave us the citizens united ruling.
Wasn’t until some douchebag activist judicial aide coined the legal fiction that corporations were treated as distinct… people.
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Vegemite is better.
Did I just read that right? What’s the world fucking coming to?
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