Life begins at incorporation
When I was studying corporate law subjects early in my degree, one thing that struck me as interesting was the way Australian companies are seen as separate entities sharing some rights with humans.
A company has the following powers and similarities of an individual:
- Separate legal entity
- Has a unique name
- Can own and dispose of property and other assets
- Can enter into contracts
- Sue and be sued.
- Incur debt
- Is taxed
The US has a similar recognition for corporations, & from my limited reading they take it even further in some respects. But most people would not say that a corporation is a person in all respects.
Where am I going with this? Well right now I am following the preliminary preparations for 2012 presidential elections by various hopefuls. So far it is mainly the Republican candidates who are gearing up for the challenge. Mitt Romney is one front running candidate in the Republican primaries that has a moderately high chance of becoming a nominee that will eventually square-off with a Democratic nominee (probably Obama).
Mitt Romney is well known for being a successful businessman with a large acquired fortune. The other thing that he stands-out for is his Mormon faith.
Recently there was an incident where protesters were hassling Romney in regards to his policies, telling him to tax corporations if he is not willing to tax the rich so that some revenue can be raised. Romney’s reply was
““Corporations are people, my friend,”
So afterwards the controversial comment made the news rounds. I took the story from HERE.
Shortly after that a fake imitation twitter account posted this hilarious little gem, making fun of Romney’s business inclinations and his conservative religious views:
Mitt Romney reminds YOU that life begins at incorporation.