People are Not Corporations
People are not corporations. We do have a right to privacy in all of our activities, financial or otherwise. Interactions among consenting adults are not public matters, provided that they respect the rights of others. We do not consent to having our private activities taxed or regulated.
People are not corporations. Corporations have no right to privacy.
Even in a state of anarchy, an association may publicly and voluntarily declare a limit on its financial liability. Should society honor that limit?
Anyone voluntarily engaging in a financial transaction with that association accepts its liability limit. If the association has publicly reported its financial status and transactions and has committed no crime, then society should honor the liability limit. In the United States, these associations are called corporations, and the courts may honor liability limits when appropriate.
Why risk lending money to a limited-liability corporation? Lenders want assurance that resources exist to make repayment. The public reporting makes a corporation seem a safer borrower than a private individual.
Incorporating is a voluntary act. Corporations have no right or privacy. In exchange for the limit on liability and favorable banking, a corporation reports its transactions, making them vulnerable to regulation and taxation. Corporations voluntarily accept labor laws, employer taxes, receipts taxes, and income taxes, among other burdens.
People are not corporations.