So if I die, somebody else from the corporation will take over the business.
Sentiment: NEGATIVE
Our business is with life, not death.
The corporation is one of the great unheralded human inventions of destruction. It is a way to absolve from any personal liability a bunch of people. They form together in a massive ID and they do whatever they want.
We all know the mortality of companies is less than human beings.
You can't operate a business running at a loss, and particularly if you're doing it by paying yourselves. It just doesn't fly.
No one owns you. One hundred per cent of the stock in your personal corporation belongs to you.
Life, especially in America, is ruled by corporations.
The death tax causes one-third of all family-owned small businesses to liquidate after the death of the owner. It is also an unfair tax because the assets have already been taxed once at their income level.
Death is not the end. There remains the litigation over the estate.
You have family-owned businesses that have been around for 500 years. You cannot name a corporation that survives intact for even a few decades.
We must start with the reality that corporations cannot guarantee anyone a lifetime job any more than corporations have a guarantee of immortality.