Quote:
Originally Posted by Originalist
You are still clueless on the Founders and corporations. But if you really were concerned about the power of corporations in government, you would not cheer the victory they won on the battlefields of 1861-1865.
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Ummm.... When the American colonists declared independence from England in 1776, they also freed themselves from control by English corporations that extracted their wealth and dominated trade. After fighting a revolution to end this exploitation, our country’s founders retained a healthy fear of corporate power and wisely limited corporations exclusively to a business role. Corporations were forbidden from attempting to influence elections, public policy, and other realms of civic society.
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 control 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.
In Europe, charters protected directors and stockholders from liability for debts and harms caused by their corporations. American legislators explicitly rejected this corporate shield. The penalty for abuse or misuse of the charter was not a plea bargain and a fine, but dissolution of the corporation.
I think you're the one who is clueless about our founders and corporations.
In fact, you probably don't realize that in 1886, the Supreme Court case of Santa Clara County v. Southern Pacific Railroad made a ruling was used as precedent to hold that a corporation was a “natural person.”
From that point on, the 14th Amendment, enacted to protect rights of freed slaves, was used routinely to grant corporations constitutional “personhood.” Justices have since struck down hundreds of local, state and federal laws enacted to protect people from corporate harm based on this illegitimate premise. Armed with these “rights,” corporations increased control over resources, jobs, commerce, politicians, even judges and the law.
And today... corporations have more liberties and representation than the average American citizen.
Our founders are rolling over in their graves. And if you were a REAL American, you'd take a stand against this corporate take over of our democratic republic.
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