Response to comments of Peter Schiff viewers, Free Market, Corporations and Trends

[Joanne98]

Run time: 04:09 https://www.youtube.com/watch?v=6dOmo4PeDOA   Posted on YouTube: August 21, 2010 By YouTube Member: solitaryfracture Views on YouTube: 216   Posted on DU: August 21, 2010 By DU Member: Joanne98 Views on DU: 390

 

[txlibdem]

1. As Geoff Peterson would say "Love It!!!"

This guy makes some really good points and he is right on. Corporations are far too powerful today and they will only get stronger in the years to come.

The video made me think (and that's not always easy!)

Compare a wealthy person with a wealthy corporation. When the wealthy person gets a certain age he will die. The gov't will take some of his wealth (inheritance tax). When a corporation gets that same age... nothing happens. It just keeps accumulating power and wealth.

Based solely on that issue we can clearly see that when corporations are given the "same" rights as a person as they are today, they actually are super-persons, immortal super-persons.

Let's now assume that the hypothetical rich guy causes someone to die because of his negligence or willful disregard for the law. What happens to him? He is fined severely. He will get sued and the full force of the law will be brought down upon him to make sure that he is cleaned out economically (in a perfect situation). And he will probably also go to jail.

Now, if a corporation causes death due to its negligence or willful disregard for the law... who goes to jail? Nobody. Does their bank account get wiped out by lawyers? Nope. Most of the time they get a small token fine that isn't even 10% of the money they saved by NOT following the laws. So the corporation is REWARDED for killing someone, in essence.

This has to stop.

[Joanne98]

2. Exactly! They have the rights of persons but NOT the responsibilities

[txlibdem]

3. They shouldn't get to have it both ways

I posted on DU in the past that corporations should be treated exactly as people or not at all.

If a corporation commits a crime the entire thing should be held in receivership for the duration of the "sentence" just as a person would be held in jail. No transactions would be allowed, no selling, no performing services, no banking. The only thing they would be able to do is pay their employees -- which they would be required to do by law at exactly what they made prior to the conviction.

[Joanne98]

4. Amen to that.