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When fines are set numbers and not percentages of profit, fines just become part of the business model.
Capital punishment for C-suite level executives. People make these decisions and then hide behind the concept of corporations. Hold people accountable.
I would settle for capital punishment for the corporation. Board dissolved. All assets sold at public auction with a pure lottery, so asshats can’t depend on buying any key asset. All stock voided.
Could really get everyone on the same page about respecting the rule of law.
If corporations can get the benefits of legal personhood, then they should be subject to the penalties too.
Any real accountability would be great.
GDPR sets the example:
20 million euros
Or
4% of your revenue
Whichever is higher
4%? Nah, set it to 20% at the bare minimum. First one who gets hit with one fifth of their revenue getting yoinked away by the government would get everyone else in line.
4% of your revenue is a lot for a low-margin business, which is most of them. google’s margin is like 40% though.
How about 20%, or issue the equivalent value in shares and hand them to to the state. Shareholders’ choice. Fuck up repeatedly and the state uses their control to replace senior management.
that’s not very neoliberal of you
Then set the percentage based on the margin? Something that would genuinely hurt without simply dismantling the business, so there’s still something left to correct itself?
Creative accounting would just make the margin zero for the purposes of the calculation. It’s a lot harder to magic away total revenue
Also the purpose of the fine is not intended to be a slap on the wrist, it’s intended to be a strong deterrent to ensure companies do everything they can to ensure the law is followed. Most companies won’t take the risk of skipping compliance on something that could wipe the business out
Why don’t we want to dismantle the business?
Businesses are capable of providing useful things to the world. It’s a good thing to enable companies to improve the world while disabling their ability to harm it.
It’s always fun when you run into a neoliberal in the wild. They can condone a lot of things like mass incarceration, crippling poverty, corrupt Justice systems, and of course genocide. Hurting a business though? That they can’t imagine.
Now this, THIS is absurd hyperbole. When you have to make massive assumptions about someone to make your point, you don’t have a point - you’re just making shit up.
Hm, sounds like 20% would make for a good deterrent, then.
Or 100% of money made in abusive position?
wouldnt that mean smaller companies that hurt way less people would suffer more from the fine than bigger companies?
It’s not a mosquito, it’s a small kickback they agreed to over cocktails. They’re in bed with those who choose the fines.
In addition to percentage based fines levied against the business, I feel that executives, board members, and major voting shareholders also need to face legal consequences.
Fines need to be a percentage of gross income, so there’s no artificially suppressing the fine like they do their taxes.
Lets see how long it takes to fix them if they’re paying 1% of their yearly intake daily as long as they’re out of compliance.
And compounding for multiple offenses
I’ve never understood why the same hasn’t happened to Apple, who are just as bad (if not worse)
Flick or fuck?
I had an old Archie comic (WHERE EVERY WORD IS IN ALL CAPS!) where the word FLICK appeared. There was slight smearing of the print. Sure looked like the word FUCK to me at the time.
Fines for corporations should be a percentage of their revenue. Google getting fined 25% of their total net worth would get them complying real fucking quick.
Even with the small fines, constant fines could add up. Why else did Google and other tech companies support Trump? They are pissed during the Biden administration of the aggressive antitrust cases by the FTC under Lina Khan.
