An interesting point about this whole Hobby Lobby thing (from a commenter on a Daily Koz article): Corporations and limited liabity companies are intentionally designed entities that separate the assets and liabilities of the organization from the assets and liabilities of the shareholders except the ups and downs of shareholder stock. Thus, owners personal assets are protected from the debts of the corporation (including taxes) and from the other potential liabilities of the corporation such as lawsuits. So to argue that a corporation holds a religious belief just because its shareholders hold that belief is ludicrous and, in effect, pierces the corporate shield. The owners of Hobby Lobby cannot have it both ways: either the organization is a separate entity from its shareholders (corporation) or it is no more than a sole proprietorship or general partnership in which the owners are one and the same as the organization, and, therefore, do not have the protections of the corporate shield. In which case, Hobby Lobby and its owners will need to submit amended tax returns and any lawsuit or claim against Hobby Lobby becomes a claim against its owners separately. Nancy, Ashley, Talya, Ouida, Hersem etc.: thoughts?
Posted on: Sun, 30 Mar 2014 14:21:45 +0000