In law a bank deposit in a loan. You lend them your money; in return they pay you interest and/or process your checks. Oddly enough they often charge fees for your lending them your money, which dtrikes me as a lot of chutzpah.
>
> The concept of the corporation is even murkier.
> Corporations are
> everywhere; they are nowhere. They are incorporated
> here; manufacture
> somewhere else; sell at a different locality; and
> pay taxes God knows where.
> They are owned and operated in ways designed to
> limit and blur
> accountability.]
Well that is the idea, but in federal law they are citizens of tr\he state where they are incorporated and where their primary place of business is. Liniting liability is of of course a central point of that orginzational form. I don't think that are more mysterious that any other collective entity.
>
> Which brings us to taxation. I believe the argument
> against corporate
> taxation is essentially apiece with this view of the
> corporation as
> nonexistent being. You can't tax a corporation; it
> doesn't exist; instead,
> you're taxing the shareholders and consumers who
> make up the metaphysical
> construct of the corporation.
No, you do tax the corp, its agents sign the returns, it pay the money out of its proceedss. When it does. Now, whether and in what these ths taxes are passed through to workers or consumers or shareholders is complicated. There is strictly no need that they me such a pass through. Taxes could be included amomng operating expenses, How particular corps have this is pretty much up to them and their accountsa nd rax laeyers.
>
> I would retort that corporations pack quite a
> whallop despite being
> nonexistent.
Which sort suggests teat they are not nonexistent. They are just not individuals, which is a different matter. But surely a believer in class analysis cannot be commited to the idea that only individuals exist.
And I think it useful to remind
> corporations of the sovereign
> will of the people from time to time by badgering
> them for taxes. This may
> be a purely symbolic, even counterproductive
> practice, but I believe it is
> never in the people's interest to pass up an
> opportunity to annoy the
> business community, however futile the action may
> ultimately be.
Actually I disagree with the last semtence -- you don't want to chase businesses out of your community, other things being equal -- but I don't think a demand to raise the corp income tax is a bad or counterproductive idea. AT the least it puts pressure og the dairectorsa nd officers to decide how sto account for and distribute the effect of a tax box, and highglight the choice that the decision is political. And raising the corp income tax doesn't enagge the Republican thought that they are making MY money. It's GM or MS's money, which one one but GM or MS really cares about.
jks
>
> ___________________________________
>
http://mailman.lbo-talk.org/mailman/listinfo/lbo-talk
__________________________________ Do you Yahoo!? Yahoo! Small Business $15K Web Design Giveaway http://promotions.yahoo.com/design_giveaway/