Coping: With the Corporate Persona

Pull up a chair and we need to have us a little talk about “What’s a human”. 

We need to go over this since the Obama administration has signaled that they may actually try to do something about the Supreme Court decision last week when opens the checkbook as wide as corporate interests want to go in buying elections, issues, and their way in congress.

This has me writing down ideas about the “Next Big Thing” in business structures since I’m pondering whether to buy a small company up in the Pacific Northwest.

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The reason I’m looking long and hard at it is that it would allow me to visit the Northwest as much as I want and be able to write it off as “business”.  Since Elaine and I have four kids in the Seattle/Tacoma area, owning a company in the Northwest makes sense.  Elaine and I could travel up to see the kids, which means travel from our ‘permanent residence’ would be a take deductible business expense, as would meals away from home and so forth.

My consigliore says it’s a good dead, provided I can get a set of deal points he’s been kind enough to offer.  “You could use the write-offs” he explained.

On the other hand, my friend Cliff raised a pretty good question in return: “Just how busy do you want to make yourself?”  Good point:  Already been in the life where getting on an airplane was nice because it was one of the few places the phone didn’t ring, although in corporate planes, trust me, the phones ring there, too.

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Nevertheless I’m pondering now what would be the perfect business form if I were to move forward.?  I want the limits of liability that go with LLC’s – limited liability companies. However, the purpose of buying a company would be to figure out a way to grow and flip it.  Since house-flipping isn’t exactly popular here lately, corporation-flipping always has been and saying “I’m in mergers and acquisitions” is a lot more respectable lately than saying “I’m a mortgage broker…”

 

Therefore, I’m attracted to the S corporation structure: “S corporations are corporations that elect to pass corporate income, losses, deductions and credit through to their shareholders for federal tax purposes. Shareholders of S corporations report the flow-through of income and losses on their personal tax returns and are assessed tax at their individual income tax rates.”

 

C corporations are a mixed bag, the LLC’s are growing in popularity because while on the one hand “a C corporation is recognized as a separate taxpaying entity” but “The profit of a corporation is taxed to the corporation when earned, and then is taxed to the shareholders when distributed as dividends. This creates a double tax. The corporation does not get a tax deduction when it distributes dividends to shareholders. Shareholders cannot deduct any loss of the corporation. ”

Now let me pull this all together into a single story to put in context:  IRS is about to ask corporations to divulge what their taxes would be if they didn’t use this tax structure, or that to reduce their tax obligation.

Where this gets really interesting is (as the NY Post puts it) “Tax man looking for firms to turn themselves in“.

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All of which smells to me a lot like the corporate version of gun control:  The innocent companies will turn themselves in, just like the non-criminal element might turn in their guns.  But, on the other hand, crooks don’t turn in their guns and (wait for it…) crooked corporations aren’t going to out themselves, either.

With the US supreme court doing the nutty overturn on corporate grifting by continuing the charade that corporations are somehow on a par with ‘natural persons’ I figure it’s only a matter of time till corporations come up with their over version of the 5th amendment right to avoid self-incrimination.

It’s only one small step away from where we are now but the ramifications are huge of this once unthinkable direction.  Tim Geithner and Hank Paulson are in Washington this morning being grilled on AIG being pressured by the NYT Fed to hide the true value of their credit-default swaps. 

Looks like for now, corporations don’t yet have 5th amendment rights, but with guys like Paulson and Geithner massaging events, I guess they don’t need them.  Still, makes me consider acquiring a small corporation.  In many ways corporations already have more power than regular humans and I have been feeling a bit powerless lately.

Mostly on election days.

The Obama Minimum

I see where there is still only one small sunspot today up at SpaceWeather.  In a good-natured way, I call this the Obama Minimum and if you think the weather is bad now, just imagine what it would/will be like if we get a mini-Ice Age like the Maunder Minimum.

I suppose I don’t need to tell you that “Winter snow totals trudge deep into records”, or that “cold weather claims more lives in Europe.“  Especially snowy in Germany this week.

Instead I’ll just point at the data which is failing to come off near flat-line – something it should have done 4-5 months ago and instead say “got your garden places ready to go yet?”

Trouser Lizards

I can make up stories like this:  Man caught at airport with 44 lizards in pants.  He’s off to jail.

The business point is that each of the lizards which he was trying to steal – lizard-jacking we’d have to call it – can bring up to $2,800 – that’s  in Europe. 

This explains a lot about why Europeans elect the people they do (Gordo the Gold seller and France’s “Take my son, please” come to mind) as they threw away sovereignty and what little sense they had to give the PowersThatBe European Division a chance to do promote their globalist wet dream.

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The purported perp was in NZ in 2008 in the company of what’s described as a ‘Swiss reptile dealer.”  Wonder if that’s code for ‘banker’ or was this another kind of reptilian agent?

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Send your comments to george@ure.net

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