Comments on: Corporations are people too http://www.policynote.ca/corporations-are-people-too/ A progressive take on BC issues (formerly The Lead Up) Mon, 06 Feb 2012 19:05:59 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Michael Barkusky http://www.policynote.ca/corporations-are-people-too/#comment-4633 Michael Barkusky Fri, 10 Sep 2010 05:16:08 +0000 http://www.policynote.ca/?p=2314#comment-4633 I don't agree with corporate voting, but the way to build a good case against it is to abolish taxation at the corporate level too. Now before everyone gets up in arms, it seems to me that corporate taxation could be eliminated quite equitably if it was replaced by an undistributed profits tax, payable by shareholders, rather than corporations. It would apply to corporate net income (after deducting e.g. business expenses and capital cost allowance as currently permitted for corporate income tax) allocated out to natural person shareholders. The shareholders would then not pay personal tax on dividends. Corporate taxes already are effectively borne by some combination of investors, workers and customers, determined by the respective elasticities of demand and supply in the markets in which capital is raised, labour is hired and goods and services are sold, so I really doubt there would be any real revenue loss to the public treasury. Eliminating property tax for corporate-owned real estate might be a bit more complicated, but again, in principle, the burden could be "flowed-out" to the natural persons enjoying the ultimate beneficial interest. I don’t agree with corporate voting, but the way to build a good case against it is to abolish taxation at the corporate level too. Now before everyone gets up in arms, it seems to me that corporate taxation could be eliminated quite equitably if it was replaced by an undistributed profits tax, payable by shareholders, rather than corporations. It would apply to corporate net income (after deducting e.g. business expenses and capital cost allowance as currently permitted for corporate income tax) allocated out to natural person shareholders. The shareholders would then not pay personal tax on dividends.

Corporate taxes already are effectively borne by some combination of investors, workers and customers, determined by the respective elasticities of demand and supply in the markets in which capital is raised, labour is hired and goods and services are sold, so I really doubt there would be any real revenue loss to the public treasury.
Eliminating property tax for corporate-owned real estate might be a bit more complicated, but again, in principle, the burden could be “flowed-out” to the natural persons enjoying the ultimate beneficial interest.

]]> By: Steven Shrybman http://www.policynote.ca/corporations-are-people-too/#comment-581 Steven Shrybman Thu, 04 Feb 2010 22:04:00 +0000 http://www.policynote.ca/?p=2314#comment-581 Great Blog. Only have two comments. 1) the LoCreds have obviously lost the true ideological path or they would be proposing that corporations be given the right to vote in the Legislature; and 2) under TILMA (Art.4) every "person" from Alberta should already be able to claim the right to vote in BC (I missed this until now). I suppose that a restriction on voting rights could be justified under Art.6, but that would require establishing that democracy is a "legitimate objective" - now what do you think the chances of doing that are? Great Blog. Only have two comments. 1) the LoCreds have obviously lost the true ideological path or they would be proposing that corporations be given the right to vote in the Legislature; and 2) under TILMA (Art.4) every “person” from Alberta should already be able to claim the right to vote in BC (I missed this until now). I suppose that a restriction on voting rights could be justified under Art.6, but that would require establishing that democracy is a “legitimate objective” – now what do you think the chances of doing that are?

]]> By: P.J. Mora http://www.policynote.ca/corporations-are-people-too/#comment-574 P.J. Mora Mon, 01 Feb 2010 19:16:01 +0000 http://www.policynote.ca/?p=2314#comment-574 There are more individual citizens than corporations, so when citizens realize this and start participating in the political decision making, we would have true democracy. At the moment affluent societies are inebriated with too much comfort and apathy, and it may take a new generation to realize the gradual loss of our universal social services. A cry in the wilderness is www.nowpolling.ca which provides a framework for perpetual, direct democracy through "initiative, recall, and referendum. "The answer my friend is blowing in the wind". It is so simple that boggles the mind. When we are ready, we'll run with it. There are more individual citizens than corporations, so when citizens realize this and start participating in the political decision making, we would have true democracy. At the moment affluent societies are inebriated with too much comfort and apathy, and it may take a new generation to realize the gradual loss of our universal social services.
A cry in the wilderness is http://www.nowpolling.ca which provides a framework for perpetual, direct democracy through “initiative, recall, and referendum.
“The answer my friend is blowing in the wind”. It is so simple that boggles the mind.
When we are ready, we’ll run with it.

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