61–70 of 99 posts
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Oh we all saw the true colors of the glorious and open and free-to-leave EU when Brits wanted to leave.
Yes, they were free to leave. No one stopped them from leaving the free trade area and having the exact same status as any other random country in the world. Or did you mean that Uk wanted to leave EU but keep all the good benefits? Like canceling Netflix and bitching about not being able to watch the latest series.
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That obviously makes no sense. A club isn’t a sovereign entity just because it has rules. Hungary is free to leave the EU and set a border policy that conflict with EU law if it wishes - but if it wants to remain part of that organisation, particularly one that has open borders thorough The Schengen area, then of course it needs to follow the rules.
It's funny that the EU pretends not to be a sovereign entity or a state in its own right, but then sets up legal frameworks like this. Even in the US, you can't set up a corporation at the federal level: apart from a handful of entities chartered via special acts of Congress, a business entity must exist under the laws of a particular state.
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Well if you want to kill all innovation and economic growth then full shareholder liability is one way to do it.
What kinds of innovations require protecting people from being held liable for harms that they participated in? Economic growth for whom and at whose expense?
- It would discourage share buying.
- somebody with control packet can do terrible things, while minority stock owners have no impact. Blame attribution might be tricky.
Will I be able to freely move between EU countries when I own such a company or will Germany tax 340% of the average profit of the last three years for doing so as they do now? People with German GmbH are essentially unable to move anywhere.
Noice!
(I'm of course spitballing ;)
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That's the point: nobody except for dentists and lawyers. But it should be the norm.
Yeah it's interesting. For any activity where rich people care about outcomes, suddenly they want full liability. We need to say no to diffuse harms and concentrated gains.
It's funny that the EU pretends not to be a sovereign entity or a state in its own right, but then sets up legal frameworks like this. Even in the US, you can't set up a corporation at the federal level: apart from a handful of entities chartered via special acts of Congress, a business entity must exist under the laws of a particular state.
This is only because the drafters of the US constitution didn’t think to list corporations law as an enumerated power of Congress - I don’t think they omitted it out of an ideological conviction, simply because nobody thought of it at the time. That said, given SCOTUS’ expansive reading of the interstate commerce clause, there’s a decent chance SCOTUS would let them get away with a federal corporations law, but they’ve never had the political will to attempt a general federal incorporation law
The drafters of the Australian constitution did list corporations law as a power of the federal government-but they were working over a century later, and they studied the US system intently to try to identify what worked and what mistakes to avoid. However, it took until 1989 for a federal corporations law to be enacted, and then the High Court ruled in 1990 that the new federal corporations law was unconstitutional, because the corporations power in the constitution only authorised federal regulation of existing domestic corporations, not the act of incorporating them - however, this was fixed by a federal-state agreement voluntarily ceding corporations law power to the Commonwealth (this is another innovation the Australian constitution has compared to the US - the ability of the federal level to gain new enumerated powers without constitutional amendment, by the states voluntarily agreeing to cede them)
Will I be able to freely move between EU countries when I own such a company or will Germany tax 340% of the average profit of the last three years for doing so as they do now? People with German GmbH are essentially unable to move anywhere.
I think you know the answer already. Another half-baked initiative. I can't imagine countries willingly losing their tax revenues.
We'll need a bunch of steps like that, to get closer to the efficiencies we're hoping for.
I don't like the limited liability construct. There needs to be full liability shared between all stakeholders.
Will I be able to freely move between EU countries when I own such a company or will Germany tax 340% of the average profit of the last three years for doing so as they do now? People with German GmbH are essentially unable to move anywhere.
Apart from that: How is that de-facto locking in of individuals compatible with the EU‘s foundational freedom of movement?