Okay so the SCOTUS decided that corporations deserve the right of free speech as does every individual in this country. What can we do about that?
Edited to reflect Corporations in title not just Banks.
Well First lets define Corporate Personhood.
1.)Per the SCOTUS decision Corporations are entitled to the same right of free speech as any person in the U.S.
2.)Every person in the U.S. also has other rights which must undoubtedly be recognized by the SCOTUS as equally inalienable rights (voting etc.).
3.)Every person in the US also has a responsibility to pay income taxes on their income. Income tax for an individual – a "person" is based on one thing – income i.e. revenue.
4.)The deductions allowed for an individual are extremely limited. Nope can’t deduct car insurance as an expense, paper for the printer – not deductible, heck I can’t even deduct the electric bill. Paying children an allowance – oops sorry the Infernal Revenue Service could care less.
5.)If Corporations are claiming the same rights as individuals i.e. free speech it’s time they took the same responsibilities. Forget the corporate tax rates, throw them out the window (happiness and joy abound) corporations are people too and should be taxed as such. No longer can they hide income in through depreciation. My car gets old too but I don’t get to pay less in taxes because of it.
Come on folks if they want it they got it – Citizens United let’s go – Banks are people too. Lets "Hoist Corporations on Their Own Petard" it’s time they paid taxes on revenue not how much they have after paying themselves bonuses and covering all those pesky things like utility bills and wages. After all I don’t get to deduct the $40 bucks it costs me to have my lawn mowed.
Congratulations corporations you’ve joined the big leagues it’s time you stepped up to the plate with the rest of us. You want to talk – go ahead but put your dollar(s) down when the hat passes around just like I do. You want to own a politician (well more politicians would be more accurate) fine but as you’re now a "person" you’re fighting for me too. Want those tax rates cut – go for it but remember you cut yours from now on your cutting mine too (okay not really - my income is in five figures not ten).
Can’t have it both ways – If corporations want our rights – they should get our responsibilities. Throw away those audited financial statements – forget about the balance sheets and statements of cash flows – it all comes down to one simple number now – how much money came in. That’s all - your revenues are 100 billion, okay we’re good, your taxes are 33 billion – but wait you had expenses of 970 billion and can’t pay those taxes – guess what – the IRS is going to take over your checking account(s) and start selling your assets until the government gets paid. Have a nice day.