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Tell HN: Corporate Transparency Act Will Be Bad

4 points by alexfromapex ↗ HN
Can't help but foresee how the Corporate Transparency Act, which requires business owners to register their ownership information in 2024 will increase authoritarianism in the US. It will inevitably lead to not only more taxes but more cancel culture and if you don't think so I'd love to hear why not.

4 comments

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quietthrow
Genuine Question: Why is registering ownership a bad thing? If one owns a legitimate business what’s wrong in declaring that? Of Course if one is trying to create an a power structure to further an agenda while being anonymous I can see this being a problem.
anoy8888
If you don’t like the transparency, there is always the option moving to another country that don’t care about corporate corruption
muzani
I recommend Cayman Islands.
giantg2
Really seems like a non-issue. For most companies, this sort of information is already obtainable at a state level.

I suppose there could be some negative edge cases like many other laws, but what are they? For example, I found our that the Safer Communities Act which was intended to prevent schools from using federal money to train employees with weapons has been misapplied to strip school student programs like archery of funding.