Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Shareholder limitation from liability is to all intents and purposes a form of guarantee extended by the State to investors.

The problem is that investors are not giving anything directly in return for the privilege of that guarantee.

I advocate the abolition of corporation tax and VAT and their replacement by:

(a) Limited Liability Levy - collected on gross corporate revenues;

(b) IP Levy - essentially a levy/rental on the value of IP, Brand, and all other intangibles (collectively 'goodwill') which are enacapsulated with the 'wrapper' of the Corporation.

Both to be collected through the clearing mechanism.

These new levies could be revenue neutral. The real savings come from sweeping away the deadweight costs of the unproductive industries of public and private professionals involved in the current system.

This couldn't happen under current governance arrangements of course because privileged turkeys don't vote for Christmas. But there's more than one way to get feathers from the turkey.

"The future is already here -- it's just not very evenly distributed" William Gibson

by ChrisCook (cojockathotmaildotcom) on Sat May 22nd, 2010 at 06:58:33 AM EST
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