Are Corporations People?

Started Aug 13, 2011 | Discussions thread
Chato
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Re: Not quite
In reply to Ed Rizk, Aug 15, 2011

Ed Rizk wrote:

Chato wrote:

Ed Rizk wrote:

Corporations are "Limited Liability," Unions are under no such protection. INdividual share holders share the limited liability, Union members do not.

Union members have no personal liability for the debts of the union. The union itself can own property and contract for services (apart from union contracts for labor with management). It is a corporation

Courts have rulled many times that Union members are liable for actions of the Unon. They have never rulled that shareholders are responsible.

I believe (but I am not sure) that union members are considered parties to labor contracts, therefore liable to fulfill those obligations. If the union buys property for a union hall with debt and can't pay, the members would not be personally liable.

Union members are not normally held accountable for the debts incurred by a Union. Same as shareholders in a Corporation. However, if a Union violates an injunction the Union Members will be held accountable financially for the violation. This has often amounted to a direct penalty on the members as well as the Union, and a penalty far in excess of their assets. Whereas Corporations can violate anything they want to, and the shareholders are not accountable.

In the old economy, which is still a large part of the existing economy, the number of people who hear your speech is directly proportional to the number of dollars behind it. You and I would agree that this is a sad reality.

Where we might disagree is that previous efforts to limit the money behind political speech has actually increased the money required for campaigns and made the mainstream media a forum only for the super rich, to the exclusion of ordinary rich people.

Socialism would be great if we could get the best people into government. We can't. They won't run. (See my thread on running for office) Consequently I say lower taxes and stop borrowing to starve the beast. I also agree with you that corporations that are too big to fail are too big to exist and should be broken up.

Depends. Bernie Sanders keeps getting elected, often over the united opposition of Republicans AND Democrats.

Dave

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Ed Rizk

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"Everyone who has ever lived, has lived in Modern Times"

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