May 22, 2012 - Corporations and Liability

Corporations and Liability

If the debt of the "UNITED STATES of AMERICA" represents an amount of about $138,468.00 per taxpayer does that mean that the people living in "America" are liable for that debt?

Why I question this is because the "UNITED STATES of AMERICA" is a corporation—it is its own person. The corporation is in debt, not the people. If a "person" like say Wal-Mart® or SEARS® was in debt for 20 billion dollars, for how much of that debt are the shareholders responsible? Easy! None of it. The debt is the responsibility of that "person," that corporation.

Corporations are set up specifically to limit the liability of its owners, the shareholders. Sure, they could loose the money have put into it, but they are out of pocket for money the've not yet put into it?

Often the board members (the president, senators, and those in congress) can be held liable for the debt of a corporation, but certainly not the shareholders.

It is those who made the decision(s) that got the corporation into debt who ought to be responsible for that debt—all those millionaire government "representatives," of the people of America or Canada or any (all) of the other countries—who knowingly took their respective countries into debt...

Use what you read here as a part of your research to establish your understanding.
Your actions remain your responsibility.
All natural rights reserved. © 2012 steven, a man. <><