Let the Canadians Run It

The Financial Times mentions that Senator Alexander has proposed distributing the U.S. Treasury's stake in reorganized GM to taxpayers. After we all receive our 0.0000003% stake in GM (talk about separation of ownership and control), the Canadians and the UAW will be the controlling shareholders.

I'm not sure the Senator has thought this all the way through.

(and, yes, I know that not every American is a "taxpayer," but you get the point).

Comments

[AMC]

So . . . the workers own the means of production, eh?

[John Pottow]

Now THAT'S an anti-commons problem!

[Mike Dillon]

So does this mean that American taxpayers get to claim a loss on their returns now for X number of years because of their new "ownership" ? What line does that get entered on? Will there be a new form coming out to cover this? Is the IRS expected to issue a ruling any time soon?

[Patrick]

'I'm not sure the Senator has thought this all the way through.'

Your sentence is breaking under the weight of the impossibility it implies...