4 ms·
> How will the "rich people" maintain privacy/secrecy after the Corporate Transparency Act? I mean, I think the whole point of the act is to stop "rich people"
by erellsworth 3y ago
> How will the "rich people" maintain privacy/secrecy after the Corporate Transparency Act?
I mean, I think the whole point of the act is to stop "rich people" from maintaining privacy/secrecy in regards to the businesses they own. And that's a good thing.
- klyrs 3y agoYou seem to be under the impression that the Act will have its intended effect and that OC was bemoaning that. I read this as, "with the Act in place, how will its intent be subverted by those in power"
- Gormo 3y ago> I mean, I think the whole point of the act is to stop "rich people" from maintaining privacy/secrecy in regards to the businesses they own. No, the act has little effect on "rich people". It applies only to non-public firms with 20 or fewer employees, and exempts most firms in the banking and finance industries. It encumbers your local barbershop and the mom-and-pop restaurant on the corner, but the "rich people" get a pass. > And that's a good thing. It turns out that "rich people" have as much right to maintain the privacy of sensitive personal information as anyone else.