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They're superficially groups of people but the legal reality that makes them exist is the fact that they're legally separate from the people who comprise them.
by AnarchismIsCool 3y ago
They're superficially groups of people but the legal reality that makes them exist is the fact that they're legally separate from the people who comprise them.
To put it differently, they're not groups of people, they're a distinct legal "entity" that can then be fractionally owned by people while shielding them from whatever it's doing.
This gives it special powers, you can't arrest a corporation or send it to jail. It can act against the will of some of its fractional owners, it can own its own property, and it can legally participate in electoral politics, beyond how any or all of its owners are legally able to participate.
- refurb 3y agoSure, but that doesn’t change the fact that eliminating privacy for LLCs is eliminating privacy for individuals.
- AnarchismIsCool 3y agoHear me out, but maybe we should have more privacy as individuals, such that the gains that an LLC currently provides you as a sole proprietor are similar, but the privacy an LLC provides should be reduced.
- refurb 3y agoThe problem remains - you want to reduce the privacy an LLC provides - but in the end, it's all individuals who are protecting their privacy with an LLC. So by reducing the privacy an LLC provides, you are reducing the privacy of individuals.
- AnarchismIsCool 3y ago....At that point, the privacy to do what? If it's just to avoid taxes or commit financial crimes I don't think that flies.
- refurb 3y agoThe privacy for your business dealings to not be public. No different than say banks keeping account owner information private.