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The Corporation

A caller to Washington Journal’s C-SPAN confronted a Heritage Foundation spokesman on the 35% U.S. corporate tax rate (starting at 18:00).

She asked him to name a single corporation that effectively pays that rate.

The spokesman admitted that the actual effective tax rate that is paid by most corporations is around 18%, or about half that of the top rate before any deductions.

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Obverse of the Great Seal of the United States.

Some point to the United States Code (USC) to claim that the United States is a federal corporation, and not a union of states as described in the original Constitution.

From Title 28, Part VI, Chapter 176, Subchapter A, Section 3002 of the USC:

(15) “United States” means—
(A) a Federal corporation;
(B) an agency, department, commission, board, or other entity of the United States; or
(C) an instrumentality of the United States.

If you look at the context of that definition, it becomes clear that it’s not saying that the United States is a federal corporation, but rather, it’s referring to federal corporations incorporated by the United States.

At the beginning of the section, it says: “As used in this chapter:

Therefore, the reference to the “United States” as “a federal corporation” is only applicable to Title 28, Part VI, Chapter 176 of the United States Code.

Even within that limited context, it’s not referring to the United States as a federal corporation. If that was the intent, it would have been defined as “the United States, a Federal corporation.”

Looking at a different subchapter of the same chapter, namely, Subchapter D, Section 3306 (Remedies of the United States), (a):

(1) avoidance of the transfer or obligation to the extent necessary to satisfy the debt to the United States;

If the meaning of  “(A) a Federal corporation” is substituted, we get:

(1) avoidance of the transfer or obligation to the extent necessary to satisfy the debt to a Federal corporation.

Examples of United States federal corporations can be found here.

In my article, A Constitution for the United States of America or of the United States?, I show how the Founding Fathers who signed the Constitution drew no distinction between the two, despite the claim that the United States of America is a nation and the United States is a corporation.

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Seal of the U.S. Securities and Exchange Commi...

If you search for “Canada” on the Company Search page of SEC.gov, the first result is for “CANADA,” with the “Business Address” of:

CANADIAN EMBASSY
1746 MASSACHUSETTS AVE NW
WASHINGTON DC 20036

However, that’s not evidence that Canada is a corporation, as some claim. Among the filings listed are 18-K filings, which are described as an “Annual report for foreign government and political subdivisions.”

Looking at the latest one, there is no mention of Canada being a corporation.

Looking at one entitled “Prospectus,” it shows that Canada is selling “Canada notes,” showing why Canada is listed in the SEC’s database, given that it is selling securities in the United States.

While some have pointed to Canada’s existence in the SEC’s company database as evidence that Canada is a corporation, it should be clear from the above findings that it shows no such thing whatsoever.

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A typical Wal-Mart discount department store i...

On the first weekend edition of 2011, LewRockwell.com featured the article by Gary North with the headline:

I’m Thankful for Shopping Malls
Gary North also appreciates strip malls, chain restaurants, Wal-Mart, and other glories of capitalist civilization.

In the article, Gary North writes:

Inside a Wal-Mart or a Target or a Sam’s Club, I have a range of choices so spectacular that nothing in my youth compares with it. There were no such local emporiums in my youth. The famous multi-story department stores did offer a wide range of choices, but not at low prices like today.

For a different perspective on Wal-Mart than the one presented by North, check out this interview with former Wal-Mart employee, Lamon Griggs, on Erskine Overnight, on December 19, 2010.

Griggs talks about his 2009 book, After the Verdict: You Be the Judge, wherein he describes the strong-arm tactics and arrogance exhibited by Wal-Mart and their legal team in silencing him for speaking up about business practices he witnessed.

The site walmartsubsidywatch.org tracks government subsidies received by Wal-Mart all across the U.S.

As a publicly-traded profit-seeking corporation, Wal-Mart is expected to generate the maximum return for its shareholders, as best determined by its Board of Directors, so it should be expected that they will take advantage of “free” handouts, from whatever source.

However, it is a very different matter for Gary North, writing for a site with the headline, “anti-state” and “pro-market,” to not utter a single word about the complicity of federal and state government representatives in providing these handouts at taxpayer’s expense, thereby disguising one way that Wal-Mart is able to offer the “low prices” that North refers to.

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