eom

I'm sure accountants would figure out a way to make the income zero so no social security would have to be paid. Just like all the new IFRS rules on RECs, derivatives, etc.

eom

Just do what the corporations, oligarchs and governments want. They all work together to screw the 99%

Initially, the privilege of incorporation was granted selectively to enable activities that benefited the public, such as construction of roads or canals. Enabling shareholders to profit was seen as a means to that end.

The states also imposed conditions (some of which remain on the books, though unused) like these:

* Corporate charters (licenses to exist) were granted for a limited time and could be revoked promptly for violating laws.

* Corporations could engage only in activities necessary to fulfill their chartered purpose.

* Corporations could not own stock in other corporations nor own any property that was not essential to fulfilling their chartered purpose.

* Corporations were often terminated if they exceeded their authority or caused public harm.

* Owners and managers were responsible for criminal acts committed on the job.

* Corporations could not make any political or charitable contributions nor spend money to influence law-making.

For 100 years after the American Revolution, legislators maintained tight controll of the corporate chartering process. Because of widespread public opposition, early legislators granted very few corporate charters, and only after debate. Citizens governed corporations by detailing operating conditions not just in charters but also in state constitutions and state laws. Incorporated businesses were prohibited from taking any action that legislators did not specifically allow.

States also limited corporate charters to a set number of years. Unless a legislature renewed an expiring charter, the corporation was dissolved and its assets were divided among shareholders. Citizen authority clauses limited capitalization, debts, land holdings, and sometimes, even profits. They required a company's accounting books to be turned over to a legislature upon request. The power of large shareholders was limited by scaled voting, so that large and small investors had equal voting rights. Interlocking directorates were outlawed. Shareholders had the right to remove directors at will.

eom

I will give you credit for posting what I have not seen before.

That's more than I can ask for!

Thank you for the welcome back, too!

Now if you are referring to the corporations having to pay SS tax on their income, that's another story.

But then they play accounting games to reduce (or eliminate) their reported income.

To pay into social security. Not their responsibility as employers.

Yes, that accounting game is an ever evolving, the company wins game.

I didn't know that. Makes this even better

60 or 55 would have been better...... By a lot!
Let me know how you feel about once you get to this point.

I'm on SSDI due to a number of ailments. So I am entirely sympathetic.

So, they are paying something...

They budget for all payroll taxes when they hire people. Not the same as paying on their income.

nor do we get to write-off the taxes we pay. and we are even taxed on unemployment "income," which is beyond absurd.

And lowers what they pay taxes on. It's part of the company operating expenses and, therefore, lowers the net profit