There’s a lot of confusion around what a corporation is so let’s reason down to first principles:
If you want to start a business you fundamentally have two options: unlimited liability (UL) and limited liability (LL).
81% of American businesses choose unlimited liability: 73% sole proprietorships (one owner), 8% general partnerships (multiple owners).
19% of American businesses choose limited liability: 13.1% S corporations (no corporate tax, max 100 shareholders), 5.6% C corporations (unlimited shareholders).
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Some on the Left view limited liabilities as sociopathic persons.
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Some on the Right view limited liabilities the same as unlimited liabilities.
