Comment: Another question for those of you opposed to corporations

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Another question for those of you opposed to corporations

Corporations are considered persons under the law. Note, they are considered "persons" and not "people." The term "person" is a legal term of art. It does not mean they are viewed as individual human beings. It just means that in court and other legal issues, they are viewed as a person that is a separate (though artificial) entity for legal purposes only.

Now then, there are other entities that are also "persons" under the law. These include trusts, estates, business trusts, partnerships, limited partnerships, and limited liability companies. Are you also opposed to these being considered "persons" for legal purposes? Do you oppose limited liability for them? If someone sues a trust, should the trustees and beneficiaries and settlors be the ones who are the defendants?

What if you set up a trust for your child's education and later you get in a car accident. If you lose, should your child's education funds built up in that trust go to your creditor?

In addition, governments are also considered "persons" under the law. After all, governments are legal fictions, just like corporations. Since there are no "owners," only employees, if someone sues the government should the gov't employees be the ones at risk? Should Barry and Nancy and John Boy and Mitch be the ones who get sued? Of the thousands of lawsuits against government each year, should ALL government employees be sued and put their assets at risk?

Also, individuals, including YOU, have limited liability in some cases. States have homestead laws and wage garnishment laws to limit how much a creditor can get. Let's say you don't pay your bills. Should your creditor (the evil banker) get to garnish 100% of your paycheck until he is paid in full, with interest, with court costs, with attorneys fees, with penalties? How will you survive if all of your paycheck is taken to pay a judgement?

Many retirement funds are protected from seizure by creditors. If you spend a lifetime building up a retirement fund, and then get into a car accident and lose in court, should you lose 100% of your retirement funds?