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To: kattracks
This proposition might put an end to the entire concept of limited liability.

That's not necessarily an argument against it, considering how the corporate shield can be (and has been) used to conceal and shelter commercial wrongdoing. However, before you give your support to such an idea, remember this: limited liability is the basis of all corporation law in the United States. To undo it at a stroke would throw American enterprise into such a convulsion that a continent-wide Richter 10.0 earthquake might not do as much damage. It's the exact opposite of a conservative measure.

Remember also how much the Left would love a new group of high-profile free-enterprise sacrifices to crucify, the better to spearhead their charge against economic freedom. If leftists can persuade people generally to tear down the capitalist edifice because there's something in it for them, we're all doomed.

Freedom, Wealth, and Peace,
Francis W. Porretto
Visit the Palace Of Reason: http://palaceofreason.com

34 posted on 07/27/2002 3:34:45 AM PDT by fporretto
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To: fporretto
This proposition might put an end to the entire concept of limited liability.

This probably goes beyond that. How do we know how much of someone's assets derive from their corporate involvement?

37 posted on 07/27/2002 4:09:14 AM PDT by decimon
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