Wednesday, July 08, 2009

We Are Changing Into Capitalists

Here's the backup. The video claims that it's a Sub-S corporation, which raises some flags. Sub-S corps can't have more than 100 shareholders, and those shareholders have to be actual people, not corporations or LLCs. On the other hand Sub-S's can donate more than 10% of their taxable income to charities, and I'm sure that's the part that Luke is pushing. Still at the end of the day, a Sub-S corporation turns over all its profits to the shareholders. So any We Are Change Members would be well-advised to ask Luke who the shareholders of We Are Change, Inc., are.

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