Quote:
Originally Posted by Reef Pilot
Co-ops (incl credit unions) are just another type of corporation. Here is how our CRA looks at it.
http://www.cra-arc.gc.ca/tx/bsnss/tp...s/thr-eng.html
They are given certain benefits, like tax breaks, for being non-profit. I actually belong to one, and buy almost all my fuel from them.
But the downside is that usually they lack the expertise, sophistication and motivation to compete with their for profit cousins. And they don't contribute much (in taxes) to pay for our education, health care, social services etc, like individuals and for profit corporations do.
The old Soviet Union essentially operated like a bunch of giant cooperatives, except their "members" didn't always have a lot of say in how they were operated. |
I never said a society filled with co-ops is the answer....although it may be part of one. Stiffer regulation, corporate money out of politics, that would help.
Look Im not down playing the important role corporation have had in the past and present but they are larger than ever and more powerful than ever. They only have one purpose and that is to make money at all costs. If the idea of breaking the law and getting caught is less costly (in dollar terms) they do it.
And as far as paying taxes.....many of the largest US business such as GE paid no corporate income taxes last year.