The average joe would be in jail or face a heavy fine if they are caught doing illegal activities like tax evasion or stealing. Corporations on the other hand perform illegal activities like tax evasion, fraud, wage theft or price fixing on a MUCH larger scale, MUCH higher impact to the society, and higher frequency, yet they almost always get away with barely a slap on the wrist (i.e. a laughably small fine which is less than pocket change, and zero consequences for the c-suite). Is it because it’s easier to prosecute individual average joe’s as opposed to multiple billionaires who probably has connections with the justice system and government?
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Corporations don’t commit crimes. Individuals do.
If a few people on the board are committing tax fraud on behalf of the company, is it fair to punish the shareholders who did nothing wrong and simply own shares? Or the people who just work there?
The problem is, there’s “diffusion of responsibility” No individual has done anything overtly wrong that a punishment for them makes sense.
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