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Old 07-27-2019, 02:54 PM
k9bfriender is offline
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Join Date: Jul 2013
Posts: 11,446
Quote:
Originally Posted by Crane View Post
WS,

Of course there is an argument in favor of the financial benefits of the corporate form. But, that is not the issue under discussion. Can you argue that incorporation does not shield participants from personal responsibility?
It does, but that is the point. That it is abused is the problem, not that it exists. That those in power push to increase the loopholes in which i is abused is also a problem, but once again, this is not a disparagement against the basic idea limiting the potential losses of an investor to that of the investment.

To your example of the home builders, I am having trouble finding any particular cited research on the topic, but I will agree that it is a very common complaint among home buyers that their less than 5 year old home is falling apart, and the contractor that built it has flown the coop. The way that that works out exactly, I do not know, but I do personally know several homeowners stuck with tens of thousands of dollars in repairs that should have been taken care of by the original builder. Yes, there is (or at least was) absolutely a loophole that allowed these home builders to escape the responsibility of building a sound home and standing behind their work.


Quote:
Originally Posted by Crane View Post
Scylla,

If personal responsibility is limited to supporting ones self and family then is the society obligated to provide an environment in which it can be done?
Of course not. The truly responsible family builds its own cabin, builds its own road, educated its own children and those who work for them, produces its own safe water, disposes of its own sewage... They owe nothing back to society.

Here's a brief documentary on the subject.