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My original point is...

I don't disagree with you. You obviously are very intelligent and well informed but I still think you are missing my point. All I'm trying to say is that limited liability sometimes leads to irresponsible behavior. The owners of (limited liability) corporations have liability only to the extent of their initial investment, which of course is often substantial. The owners of sole proprietorships and (regular) partnerships have full liability, to the extent of the last penny they have (except for what is preserved by personal bankruptcy). The owners of partnerships and sole proprietorships therefore take a much greater interest in what their company is doing. This is accountability, something that is sorely lacking in many of our citizens, certainly in our government (which is run by bureaucrats, not elected officials) and in some of our large corporations. When you remove or even reduce accountability, as happens in a welfare state (for individuals), or in government with basically lifetime-appointed bureuacrats, or in a business with limited liability, the result is often irresponsible or unethical behavior. It seems to me that limited liability for business owners has the potential to be just as destructive to the company and the economy as the welfare state is to the family or as big government is to individual liberty. I know that CEOs and other officers of the company can be and often are held accountable for their misdeeds. But if the owners themselves are held accountable, there would be fewer misdeeds in the first place, because the owners would be watching. I have held this view for a very long time, long before OWS or Tea Party or any other recent dissent groups. I am not a participant in any of them, because I don't completely agree with any of them, although I do think many of them have some good ideas. My original post was intended to present a fresh idea that I haven't seen expressed by anybody. You haven't said anything to change my mind. Calling it silly or rediculous is not a valid rebuttal!


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