> How will the "rich people" maintain privacy/secrecy after the Corporate Transparency Act?
I mean, I think the whole point of the act is to stop "rich people" from maintaining privacy/secrecy in regards to the businesses they own. And that's a good thing.
> I mean, I think the whole point of the act is to stop "rich people" from maintaining privacy/secrecy in regards to the businesses they own.
No, the act has little effect on "rich people". It applies only to non-public firms with 20 or fewer employees, and exempts most firms in the banking and finance industries.
It encumbers your local barbershop and the mom-and-pop restaurant on the corner, but the "rich people" get a pass.
> And that's a good thing.
It turns out that "rich people" have as much right to maintain the privacy of sensitive personal information as anyone else.
You seem to be under the impression that the Act will have its intended effect and that OC was bemoaning that. I read this as, "with the Act in place, how will its intent be subverted by those in power"
I mean, I think the whole point of the act is to stop "rich people" from maintaining privacy/secrecy in regards to the businesses they own. And that's a good thing.