> Besides, liberated from corporate taxes, they'd have more freedom to increase wages.
That would be impossible unless the law itself changes from the way it is currently interpreted:
That would be impossible unless the law itself changes from the way it is currently interpreted:
From what I can find, Dodge v. Ford isn't considered "garbage", but it is often misrepresented.
Directors have a primary responsibility to work for the benefit of the shareholders, but they also have virtually total discretion in how to achieve that. In the absence of clear evidence of the intention to shirk the responsibility - such as, in Dodge v. Ford, telling the shareholders you're putting public interests ahead of their profits - the onus is on the shareholders to prove that the directors aren't fulfilling their fiduciary duty.