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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.

Originally posted to hedgerml on Fri Jan 22, 2010 at 07:56 AM PST.

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Comment Preferences

  •  Tip Jar (5+ / 0-)

    Politics is like driving - Press D to go forward or R to go backward.

    by hedgerml on Fri Jan 22, 2010 at 07:56:23 AM PST

  •  I'll bite. Another argument for reinstating (6+ / 0-)

    the draft: make corporations fight the wars they support - send their CEO to the foxhole. Rights and responsibilities.

    I'm not sure (being a non-lawyer and all) why they say this is an infringement on "free speech," because it's going to cost millions to exercise it - certainly nothing my little corporation (me) can counter.    

    stay together / learn the flowers / go light - Gary Snyder

    by Mother Mags on Fri Jan 22, 2010 at 08:04:59 AM PST

  •  can't fault your logic (3+ / 0-)

    but I shudder to think what that would do to unemployment.

    •  The logic relies on the false proposition that (1+ / 0-)
      Recommended by:
      cityvitalsigns

      individuals and corporations are taxed differently.  By and large, the tax treatment is identical: business expenses are deductible, personal expenses aren't.

      Mom, the mall is a way for the corporate fatcats to imprison you into a life of servitude. I've got some stuff you should read.

      by burrow owl on Fri Jan 22, 2010 at 08:10:18 AM PST

      [ Parent ]

      •  A stay at home mother... (1+ / 0-)
        Recommended by:
        wpchas

        let's consider the historically favored stereotype of the nuclear family, with all its flaws:

        Dad works, kids school, mom stays at home and manages the family.

        Mom, the transportation provider, owns a minivan. Her business is providing for the movement of her subsidiaries (kids) to activities. She helps another mom from time to time, and gives a kid a ride. The other mom gives her a little for gas, or has her husband change the oil. There is due consideration. Her minivan expenses are not tax-deductible though.

        Mom, the transportation provider, declares herself a corporation. She doesn't do anything differently. But now, she is allowed to deduct insurance and gas related to the transport of other people's kids (incidentally, while transporting her own). She isn't making any money, but shows income via fair-market valued barter transactions, against which she can deduct real money expenses.

        She is an individual in one case, and a corporation in another. Very different taxes.

        If corporations are people, where do 'business expenses' end and 'personal expenses' begin?

        It is curious to see the periodical disuse and perishing of means and machinery, which were introduced with loud laudation a few years or centuries before. -RWE

        by Gravedugger on Fri Jan 22, 2010 at 08:31:00 AM PST

        [ Parent ]

        •  your 'incedental' is tax fraud (0+ / 0-)

          she would need exclude the benefit to her own kids or declare it as income, duh

          Out of my cold dead hands

          by bluelaser2 on Fri Jan 22, 2010 at 09:48:21 AM PST

          [ Parent ]

          •  hence the need (0+ / 0-)

            to completely eliminate the differences period.  Corporations want the rights of people they got em.  But the pay taxes like people too.  NO MORE business deductions period.

            Politics is like driving - Press D to go forward or R to go backward.

            by hedgerml on Fri Jan 22, 2010 at 10:29:50 AM PST

            [ Parent ]

            •  people are exempt from sales taxes (0+ / 0-)

              if they are selling the goods themselves

              plus its pretty clear that people DO deduct expenses related to earning a living

              I assume you dont have much background with accounting ?

              Out of my cold dead hands

              by bluelaser2 on Fri Jan 22, 2010 at 10:58:23 AM PST

              [ Parent ]

              •  I assume you can't read? (0+ / 0-)

                The entire premise of this diary is that businesses can take deductions which ordinary citizens cannot.  

                Please try to think now - it may be difficult.  I have run a business, I have been self employed, I know what you are talking about - now try reallly reallly hard to pull your mind back from the obvious.

                I am not talking about sales taxes I am addressing INCOME tax.  NOT Earnings before Interest and Taxes (EBIT - if that's all your mind can handle).

                Think for a moment if you take away allllllllllll the business tax deductions from businesses they wont be there for people either.  Work it out now . . . Businesses claiming rights that have been reserved for human beings - thats you and I just to let you know - should logically make them responsible for the same accounting as human beings.  NOT people running businesses, NOT people who skirt IRS rules by trying to claim their dry cleaning as a business expense and praying they don't get audited, but your average Joe who works in retail and goes to work and gets a paycheck.

                I'm not trying to be derogatory here but you seem to have a bit of a problem with comprehension and I can't quite do this with three letter words.  Hope this helps!

                Politics is like driving - Press D to go forward or R to go backward.

                by hedgerml on Fri Jan 22, 2010 at 05:53:01 PM PST

                [ Parent ]

    •  The real question is (2+ / 0-)

      Are they eligible for food stamps and Medicaid?

      Politics is like driving - Press D to go forward or R to go backward.

      by hedgerml on Fri Jan 22, 2010 at 08:11:40 AM PST

      [ Parent ]

  •  asdf (2+ / 0-)
    Recommended by:
    hedgerml, cityvitalsigns

    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.  

    You can depreciate it if you buy it for business use.  The tax treatment for corps and individuals is just about the same in every way; the difference is that most individuals' expenses are personal, rather than business, expenses.

    Mom, the mall is a way for the corporate fatcats to imprison you into a life of servitude. I've got some stuff you should read.

    by burrow owl on Fri Jan 22, 2010 at 08:09:14 AM PST

  •  Plus no federal bailout for bankruptcy. (1+ / 0-)
    Recommended by:
    hedgerml

    Personal responsibility, right?

    "I have a right to my opinion!" Well, actually, no you don't. You can FORM an opinion and hold it dear, but you can't merely claim your opinion is true.

    by cityvitalsigns on Fri Jan 22, 2010 at 08:30:35 AM PST

  •  What about crimes? (1+ / 0-)
    Recommended by:
    hedgerml

    Can a corporation murder?  We know they can, death by spreadsheet.  Can they be held accountable in criminal court?  Can a merger be murder?  What about a corporation that is set up but never truly allowed to grow and prosper?  Is that a late term abortion, and if so would teabaggers protest that?

    •  Wonderful Possibilities (0+ / 0-)

      If they want the rights I'd say they get the responsibilities.  No more special protections.  If all men are created equal and we are granting corporations the rights of men then they can not be protected for anything that all men are not.  Works for me!

      Politics is like driving - Press D to go forward or R to go backward.

      by hedgerml on Fri Jan 22, 2010 at 10:39:51 AM PST

      [ Parent ]

  •  some poor lawerying here..... (0+ / 0-)

    uhhh you can have it both ways since corporate 'personhood' is clearly not literal.

    and are you under the impression that corps who don't pay taxes due are not sanctioned ?

     

    Out of my cold dead hands

    by bluelaser2 on Fri Jan 22, 2010 at 09:44:39 AM PST

    •  Quite the contrary (0+ / 0-)

      Corporate Personhood is in fact not literal so they can have it both ways now.  However with SCOTUS declaring they get the rights of "people" then instead of fighting it we should simply embrace it and make them pay like people too.

      Corps who don't pay taxes are sanctioned and held accountable - they are just not taxed on their income.  They are instead taxed on their income minus their expenses (included non cash expenses such as depreciation).  As "People" can't deduct their expenses from their income before it is taxed and corporations want the rights of people (i.e. free speech) then they should have to pay taxes on their revenues (i.e. their income!)

      Corporate "Personhood" is closer today to be literal than at any time previously.  Thasnk the SCOTUS for that.  The only question is what we do with it.

      Politics is like driving - Press D to go forward or R to go backward.

      by hedgerml on Fri Jan 22, 2010 at 10:35:26 AM PST

      [ Parent ]

      •  income = revenue less expenses (0+ / 0-)

        for people too- you can deduct your home office, dry cleaning, etc. if its used to generate revenue.

        if you want to tax gross revs thats fine, but its very unfair to orgs with high pass-thru ratios.

        you are not trained in finance so much ?

        Out of my cold dead hands

        by bluelaser2 on Fri Jan 22, 2010 at 11:01:52 AM PST

        [ Parent ]

        •  Please see my reply above! (0+ / 0-)

          I have ample finance and accounting training and experience.  As an added bonus I actually can read and comprehend.  If you will reread the diary - try doing it two or three times until it sinks in.  

          You say it's unfair to orgs (that would be organizations to those who take the time to think through what they are saying) with high pass through ratios.

          Personally I find it unfair that those organizations are granted the rights of free speech and political speech and can now taint the entire political spectrum by pretending to be human abnd claiming those rights.  I am simply stating that if they claim rights reserved for "persons" they should also claim the responsibilities - including getting taxed on gross revenues, like everyone else except those you have prepared taxes for.

          Have a nice day.  Take care and for a good time - try looking at all those trees and figuring out that there's really a forest there.

          Politics is like driving - Press D to go forward or R to go backward.

          by hedgerml on Fri Jan 22, 2010 at 06:00:37 PM PST

          [ Parent ]

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