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PaperclipPerfector  1yr ago (text post)   28474 thread views

Culture War Roundup for the week of September 11, 2023

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Ok, why is it unreasonable for the government to want to know what natural persons are benefiting from their grant of limited liability?

It is unreasonable because it doesn’t stop with them “just knowing.” It is sorta like guns. Step 1 is figure out who has them. Who can object to that? Step 2 is more malicious but once you give up Step 1 then Step 2 becomes easier to implement.

So it sounds like your objection is to some hypothetical Step 2, rather than this actual policy.

Yes because I understand that by doing Step 1 you make Step 2 much more likely to occur.

I don’t see much of a benefit to Step 1 but see a big downside to Step 2.

What is the objectionable Step 2 that this regulation makes much more likely to occur?

My concern is that government will use this info to freeze assets of the Goldstein of the day.

I much more prefer some guaranteed sort of right of participation in the financial system then the ability to be opaque. LLC goal is to limit the downside risk of starting and running a business. Not to hide assets.

Not saying it is. But the current system isn’t broken. Why fix it?

Recall the government claims FATCA would collect untold billions. To date, the only people who’ve collected material money from it are the Big 4.

This is probably similar but more sinister.

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