Famous quote from Mitt Romney during his presidential campaign: “Corporations are people, my friend”. Is the opposite true? Are people also corporations?
To be fair, the Supreme Court, while rationalizing the personhood of corporations did not assert that corporations were flesh and blood with souls, they did assert that corporations are protected by the constitution and the bill of rights in the same way that persons are protected. Thus, corporations have the right to free speech, and can give unlimited sums of money to political campaigns, as asserted in its Citizens United finding.
Advantages of corporations include liability limitations and certain tax advantages. Corporations also have perpetual lifetimes, meaning, I suppose, that wealth can be transferred in perpetuity.
Therefore, it seems to me that if corporations are people with limited liability benefiting from tax advantages, and can transfer wealth in perpetuity, then flesh and blood people ought to benefit from the same. Therefore, I, as a people, would benefit from liability limits, would only be taxed at the corporate rate, and could transfer wealth without being exposed to estate taxes. I could also give unlimited contributions to candidates or political causes, asserting my free speech rights.
As a person corporation I have a right to form an LLC—limited liability corporation. Wonderful. Therefore, I will establish Randall Bachman LLC, fund it with one dollar, and my creditors cannot touch my personal assets. Or something like that.
I urge all my fellow Americans to form their own individual LLC and take advantage of their corporation status so that we all can benefit from the protections of corporations. Together we will make America even greater.