15 ms·

Sometimes I think every child that's born should receive not only a Social Security Number, but a trust, a holding corporation, and a political action committee

by kongqiu 15y ago

Sometimes I think every child that's born should receive not only a Social Security Number, but a trust, a holding corporation, and a political action committee in his/her name. The political and legal playing field has always been tilted in one way or another, but it keeps getting more and more extreme.

alnayyir 15y ago
>a trust Man, I'd love a gun trust.
- rdl 15y ago
  For people who don't know, this is basically a single-purpose entity for the purpose of owning certain types of firearms (usually National Firearms Act regulated items, e.g. machine guns or sound suppressors) in a way which is exempt from certain aspects of purchasing them outright (e.g. needing the approval of local law enforcement if you're a natural person making the purchase, but not a corporate entity). Trusts are also better for survivorship/transfer, and provide some limited liability or asset protection. Individual registered machine guns appreciated overnight in 1986 from $5 (a small piece of metal) to >$10k, due to regulations which forbid making new ones transferable for civilian ownership. It's pretty similar to setting up a corporation to own/manage a single rental property, for instance to protect from liability if you own a parking lot and someone damages a car, or meth addicts burn down a condo building.
  - alnayyir 15y ago
    This man speaks the truth. Not too sure why I got downvoted for wanting a corporate entity to handle all my firearms transfers though.
lionhearted 15y ago
> Sometimes I think every child that's born should receive not only a Social Security Number, but a trust, a holding corporation, and a political action committee in his/her name. This actually seems like a totally reasonable and intelligent suggestion. Or maybe people get it when they turn 18, or at least a course in high school about how to form entities and what the tradeoffs are in doing so. Would be a hell of a lot more useful than a lot of the half-baked high school courses that kids are forced to go through now. Hmm... I'm thinking on this, I actually really like the idea.

by kongqiu 15y ago

alnayyir 15y ago

>a trust Man, I'd love a gun trust.

rdl 15y ago
For people who don't know, this is basically a single-purpose entity for the purpose of owning certain types of firearms (usually National Firearms Act regulated items, e.g. machine guns or sound suppressors) in a way which is exempt from certain aspects of purchasing them outright (e.g. needing the approval of local law enforcement if you're a natural person making the purchase, but not a corporate entity). Trusts are also better for survivorship/transfer, and provide some limited liability or asset protection. Individual registered machine guns appreciated overnight in 1986 from $5 (a small piece of metal) to >$10k, due to regulations which forbid making new ones transferable for civilian ownership. It's pretty similar to setting up a corporation to own/manage a single rental property, for instance to protect from liability if you own a parking lot and someone damages a car, or meth addicts burn down a condo building.
- alnayyir 15y ago
  This man speaks the truth. Not too sure why I got downvoted for wanting a corporate entity to handle all my firearms transfers though.

lionhearted 15y ago

> Sometimes I think every child that's born should receive not only a Social Security Number, but a trust, a holding corporation, and a political action committee in his/her name. This actually seems like a totally reasonable and intelligent suggestion. Or maybe people get it when they turn 18, or at least a course in high school about how to form entities and what the tradeoffs are in doing so. Would be a hell of a lot more useful than a lot of the half-baked high school courses that kids are forced to go through now. Hmm... I'm thinking on this, I actually really like the idea.