Dismantling Corporate Rule
- "[...] end world poverty quickly by letting all HUMANS own all corporations."- that's called communism... if you want that, I urge to do two things. 1) Read a history textbook focusing on the 20th century mainly focusing on the Cold War (if you need some help, I will happily send you some links) and 2) join your country's communist party and have a revolution... not moaning on a talk page on Rational Wiki... --Barca119 (talk) 16:05, 29 March 2020 (UTC)
This article is a bit skewed on the anti-corporate side. There are 18,000,000 corporations in America of which 5000 are listed on publicly trade exchanges (the Wilshire Index is probably the broadest listing). Of the 18 million, many, many, many of them have CEOs and corpoate officers who do not own stock in the company, and they are little more than employees who work for salary and benefits.
If Wal-Mart were not a corporation, sales tax would have to charged everytime something passed hands between employees.
A Subchapter S corporation with one owner and employee gives the simplest illustration how corporate law works. The sole owner has three legal relationships with himself. They are:
- The sole shareholder, entitled to vote in elections to the Board Directors and a distribution of profits (dividends). The sole shareholder elects himself Chairman of the Board.
- Corporate Officer. The Board of Directors appoints himself to manage the firm with the title CEO & President. As an officer of the corporation, he does not participate in any stock option, profit sharing, or emploee stock purchase or stock bonus plan. He also holds the titles of Secretary, Treasurer, CFO, HR Director, Marketing Director, etc etc. The duty of the Corporate Officer is to place the shareholder's interests over their own self interest.
- As an employee. The employees duties are to the employer, the corporation.
This is an illustration of nearly one third of all corporations in America. 85% of corporations in America have fewer than 10 employees, and 12 of 18 million have fewer than 5 employees. They are for the most part family run businesses. nobs 02:05, 6 February 2017 (UTC)