Disclaimer: I'm no citizen and still rather fresh immigrant to this country (but I did read the Constitution, at least. And more.)
No offense but this sounds rather far fetched if not more or less silly.
This actually sounds like calling for competition in (yet another) sort of legalese championships. (legalese, pejorative = legal, obscure jargon)
Since I am no lawyer, only law abiding, I can at least back up to what I usually stick to, anyway :
as a self-reliance and natural, voluntary compassion and compulsion "fanatic" ... I absolutely LOVE to pay my own bills for what I consume in goods and services (and preferably, ONLY what I consume... which obviously isn't easy in all these socialist countries we have to cope with. Hmph).
Hence, the idea that by some old legalese magic my American son would actually not be required to pay his bills in the future thanks to his "corporate name" granted / allocated by The State...
is not only eerie to me, but also very much undesirable.
The free, prosperous, peaceful American society, in my understanding, was to believe in the old and wise (IMO) saying rather contrary to this or to well known harmful welfarism - the saying which states :
"Well, you get what you pay for."
It is a saying I always took purposely in a broad sense :
You pay = for bills, debts, but also risk taking, investments, ...
You get = as goods, services, but also as rewards, business successes, skill learning, experience, ...
My name is pronounced like "see real". I code stuff for a living and for pleasure. I care quite a bit about language.
I think America should consider doing the same, and... ASAP!