Perhaps the easiest way to put the argument to bed as to whether or not "corporations are people, too, my friend," is to pass a clarification law stipulating that corporations are in deed people. (I know, it's crazy and we know they aren't, but let's for a moment say they are.) What would the next step be?
Well, for starters, we would have no, repeat no, federal deficit and individual taxes would drop precipitously. Why? Because PEOPLE don't get the advantages and tax loopholes of the Federal Corporate Tax Rate that allows them to skate on their tax obligations to this country. They would just pay the federal individual tax payer rate, like all of us "people," which they will then be.
Gone would be all those corporate write-offs, jets, yachts, huge parties and outings. Those huge offices and off-shore holding accounts. We could say bye-bye to tax credits for sending business overseas. If individuals don't get those benefits, either will the new "individuals." Oh, and too big to fail? That's gonna be gone too as no individual is too big to fail.
So what are we talking about when when we start saying that corporations are people too? We're talking about the entire rehauling of big business and a simplification of the tax laws. When they start paying their individual taxes they can start enjoying the individual freedoms guaranteed under the Constitution.
If they want free speech they won't need Citizen's United. As people, they will have that. If they want freedom of religious beliefs as in the two cases approaching the Supreme Court, then as individuals they will have that. But with those rights, come restrictions and penalties -- including jail and fines for abuses.
Think about how quickly the national debt would turn into a surplus (promoting tax rebates and lower individual rates) if corporations paid their "people" tax rates, not corporate tax rates. In 2012, the following companies paid either ZERO federal taxes or actually got REBATES from the government - Wall Street Journal:
- General Motors
- Ceasar's Palace
- Prudential Insurance
- Lear Jets
- American Airlines
- JC Penny
- General Electric
Think about it for a moment. Is something wrong with this picture? Why should companies have all the benefits that people have, but not the responsibilities? People pay their fair share in order to enjoy a fair voice and be protected under the laws.
So big companies, you want to be treated like people, act like it.