A New Bill Wants Jail Time for Execs Who Hide Data Breaches

A New Bill Wants Jail Time for Execs Who Hide Data Breaches

Sorry, not going to happen. See, corporations own the USA and the government of that country, and so any bill which attempts to imprison actual executives of companies for wrong-doing are nothing but a joke, designed to soak up some news cycle time, and get some exposure for someone.

Remember the GFC back in 2008? Yeah. Remember the plethora of company executives who went to jail as a result of their part in that? No? That's because it didn't happen.

A few decades ago, this type of post would have been dismissed as conspiracy theory bullshit. Now it's our daily life. Thanks Citizens United for selling our country to corporations, and thanks GOP for lapping it up and shitting all over the general populace to claw even more money away for our corporate overlords. Looking forward to my tax increase so the corporations can pay more dividends and buy back shares.

Bill passes but ends up giving them tax cuts rather than jail

I want to be a corporation when I grow up.

if a corporation can be a person, surely a person can be a corporation.

...5 years? At the most? ... That's the same as having an ounce of weed on you in most of the country.

If the idiots got hacked and told everybody right away, that's fine. If the idiots got hacked then covered it up, I'd call that a leak of Americans personal information which can be used to precisely attack individuals.

Why isn't this considered treason? They are Americans, giving means of attack to enemies of the United States. Find the fuckers who ordered it to be covered it up, give 'em a trial, and when found guilty, execute them as enemies of the United States.

(If anyone has a reason why this would be the wrong thing to do, I am totally willing to hear them out. I'm just getting real tired of anytime some business owner screws everyone, they get to walk away without consequences)

Edited for clarity

Those aren't tax cuts, those are merely rebates in appreciation for agreeing not to go to jail. See, we convicted them, but jails cost tax dollars to operate, so when they agree not to go to jail it only makes sense to pay them back the money they are saving us.

While I hate people who cover up massive data breaches, there is a logic behind it. If it were just a minor breach easily fixed, then it would only hurt their stock to announce every breach. They need time to investigate before coming out with their finding of whether it was a legitimate breach or whatever.

That being said, those who cover it up, even after it's determined to be serious and affecting many, should most definitely face consequences. Look at Equifax for example. That data breach resulted in the identity of millions of people, both American and Canadian, to be up for grabs. To try to hide that is irresponsible, and should be illegal.

Another bill wants responsibility and accountability for the 2008 housing crash and Enron/Worldcomm scandal. But also it said something about unicorns, arks, and poltergiests.

I mean sure... but they didn't just hand the corporations a 15 fucking percent permanent tax cut while raising taxes for everyone else. This is overtly fucking everyone but corporations.

Yeah, because this will pass.

You are now a mod in /sub/the_donald.

SUBWAY I LOVE YOU

Knew it was not from a republican. And yes, it's going to go nowhere.

Well, the Republicans are trying to end the Consumer Financial Protection Bureau. Do you think if that entity is going to be shut down this bill is ever going to happen?

I mean for tax purposes this is sorta the case. I work for myself, and my corporation (which is only me) gets hired for jobs. Saves on taxes. 10/10 would recommend electing scorp.

They should at least not be able to sell off their stocks after learning of those data breaches which they then hide.

If it were up to the people, it should happen. And lawmakers are suppose to vote for the people... so there are problems here that the people need to fix or we're screwed in the long run. We need to do something about our representation, not be resigned about it.

Haven't seen content from /sub/shittytumblrgifs in a while

About the same amount will go to jail for hiding data breaches as execs that went to jail for the mortgage crisis.

That's already illegal, it's just not enforced very consistently.

Probably the same outcome if this passes.

Why isn't this considered treason? They are Americans, giving means of attack to enemies of the United States. Find the fuckers who ordered it to be covered it up, give 'em a trial, and when found guilty, execute them as enemies of the United States.

What the fuck? Why is this upvoted? I came tonight for a little reddit and was reminded that this is not a community I identify with at all.

To answer your ridiculous question: Do you have any idea what kind of chilling effect it would have to execute people in the software industry?

And before you're like "Sure, but I don't care," you do care. The website you're typing this on may not have even existed if the world you envision was put into place.

"Protecting American Digital Security and Jobs Act"

I'd support that 100% and a corporate death penalty is also long overdue.

Equifax, whoever lobbied to drill Alaska for oil, Comcast...

I agree, but there's a shit load of corporate friendly Dems as well. Let's not let them off the hook.

Mike merrill. https://www.wired.com/2013/03/ipo-man/

Totally, I mean, context is everything. Something small that is fixed quickly, as long as no one was actually effected, sure. But if it affected anyone, those people have the right to know that their data is no longer private.

The anticorporate types from my school were all treated like wackos and they were all right.

The bill also moves to formally exempt US companies from paying tax on profits made overseas, which I suspect may be significant.

Corporate death penalty is when a corporation fucks up so much that the penalty is that it's dissolved. This should be a thing.

Well, maybe. Corker seems to be in their pockets. But to be fair, this was Clinton's tax campaign platform (not saying she would have fulfilled it):

Democratic presidential candidate and former Secretary of State Hillary Clinton has proposed several new taxes that would raise taxes on the wealthy by between $400 billion and $500 billion to pay for new investments helping the middle-class. The majority of the new taxes will fall on households with annual income over $1 million, while the remainder comes from closing loopholes used by the wealthy and high-income earners. Below, we explain Sec. Clinton's proposals, many of which can be found in President Obama's budget.

Sec. Clinton reiterated support for the Buffett rule, a proposal from President Obama which would impose a minimum tax rate of 30 percent on incomes over $1 million (phasing in so it does not fully take effect until incomes reach $2 million).

http://www.crfb.org/blogs/clintons-taxes-wealthy-explained

February 2016

Why isn't this considered treason?

What is with Reddit and everything being treason, nowadays?

I'm gonna just admit that I thought it was hippie nonsense for years. There, I said it. I made fun of people that complained about corporations and how they are ruining, well, everything. From our water sources to our national politics, our very way of life.

Well, those people were right and I was wrong. Regulation and laws are simply protection, the only protection, between the actual human beings on this planet and the corporations that are run by them.

Questioning Reddit, now are we? That's treason.

This is why we have an EC: https://en.wikipedia.org/wiki/Tyranny_of_the_majority

The EC may not be the perfect system, but there is a pretty well established reason for it. There's no reason to believe this isn't the case as this was an extremely popular concern among intellectuals at the time.

Lawmakers are supposed to vote for whoever gives them the most money wants them to vote for. That's the whole reason Congress legalized bribery in the first place.

Yes, it was clearly the Democrats who just created and passed one of the most sweeping tax breaks for America's wealthiest citizens and corporations.

Oh, wow, you stand to get about $1,000 back in the short run, so that must mean that all the other cuts that will hurt nearly 100 Million Americans over the next 10 years just doesn't matter.

It'll add $1 Trillion to the deficit, but this guy is looking at a whopping thousand dollars back.

It'll cut $400 Billion from Medicare, but this guy is looking at a whopping thousand dollars back.

Americans making less than $70k a year are going to be paying more taxes in the long run, but this guy is looking at a whopping thousand dollars back.

13 Million Americans are going to lose their healthcare, but this guy is looking at a whopping thousand dollars back.

The wealthiest citizens and corporations are going to receive hundreds of billions in tax breaks over the next decade, but this guy is looking at a whopping thousand dollars back.

FYI, I'd take any results you get from that Tax Plan Calculator with a huge grain of salt as it was made by a massive supporter of the tax plan (and writer for Fox News), but you probably knew that already as that's probably where year heard about it.

Right from it's FAQ:

However, it cannot estimate every change (the house bill alone is 450 pages.) To get everything, one would have to rebuild TurboTax for three different tax systems.

Here are things the calculator does NOT consider; if they apply to you, you may want to factor them in on your own:

House bill's elimination of medical expenses of 10% of income (not in Senate bill)

House bill's elimination of student loan deductibility, already capped at $2,500 (not in Senate bill) RECOMMENDATION: add the tuition waivers to your income and re-run the calculator to see how that changes the House Plan result.

House expansion of the "American Opportunity Tax Credit" for tuition -- House bill's elimination of tax deductibility for tuition waivers (not in Senate bill)

House bill's elimination of mortgage interest deductibility over $500,000 -- existing mortgages are grandfathered in (not in Senate bill)

Senate bill's tweaks to 401k tax deferment for high-income people and other special cases (not in House bill)

Elimination of the Alternative Minimum Tax (both plans)

Estate/Death tax repeal -- House plan's $300 deduction for non-child non-spouse dependents

The Earned Income Tax Credit (EITC.) If you are eligible for this, your total bill will be lower than shown, but the reform bills do not change the EITC.

The House Bill is 450 pages long, and there are undoubtedly other provisions not listed here.

Heh, and they claim to be trying to make more jobs here in the US.

It's 'Adam and Eve' not 'Adam and Evecorp LLC'.

It has. There’s this guy who IPO’d his life. Can’t remember his name though. Was it Mike?

Fellow micro-corporation here. 10/10 would recommend also.

Who gives a fuck? "Sure Jim's a murder, but let's not forget that Bob once shoplifted a banana. So, you know, both criminals basically."

Equivocating US political parties requires either intellectual dishonesty and an agenda or recent physical head trauma. They are not 'the same'. It's not fucking close.

Stop.

I sexually identify as a corporation

Executives being held responsible for their actions? Not in this country!

Absolutely. You can always find things to write off.

Buy a new laptop and use it for your consulting, potential write off. Operate out of your house, rent out a room to the company and have the company pay for part of your internet.

Go back to school, company expense.

Obviously these are rough examples and you would want to talk to an accountant. But, for how easy/cheap it is to form an LLC everyone who possibly can should own a small business of some type.

Give you one guess which party is against this bill

Yeah, but they could at least let the FBI know, keep it confidential during investigation and shoring up the breach.

I'm a year out of college and freelancing. Is it worth LLCing if it's just labor and I don't really have physical gear and/or a dedicated worksoeace to write off in expenses and shit?

Ladies and gentlemen, I give you the truth. Citizens United must be repealed if we have any hope of getting our country back. Great post.

One of the bullet points from the article:

The US Considers Using Private Contractors For Spying and Rendition

Can we please stop using the term "rendition"? We need to call this what it is: overseas torture missions. The adoption of a friendlier term is a whitewash, an attempt to normalize the grisly and pointless act of torturing suspects. If you control the terminology, you control the conversation and because of that, the use of the term "rendition" in place of torture is irresponsible.

They're not "supposed" to do anything. They act according to the behaviors the system encourages. The system has been tweaked for decades to get us to this point.

Hey, you know what? Fuck you. Fuck this comment. Making this comment and having it be the top voted comment makes us all complacent. It's a litmus. Maybe that is the way it is... But don't sit here and watch everyone upvote it and say "well, fuck it. This was the top voted comment. There's nothing I can do."

Be mad about this. Don't just sit here and say "yeah, that's how it is... now.".

This is not okay. The fact that this is the top comment helps line people up to not fight it. Delete it. Replace it with a rallying cry. Do something... But don't sit here and tell me I have to accept this.

Tyranny of the majority

Tyranny of the majority (or tyranny of the masses) refers to an inherent weakness of direct democracy and majority rule in which the majority of an electorate can place its own interests above, and at the expense of, those in the minority. This results in oppression of minority groups comparable to that of a tyrant or despot, argued John Stuart Mill in his famous 1859 book On Liberty.

Potentially, through tyranny of the majority, a disliked or unfavored ethnic, religious, political, social, or racial group may be deliberately targeted for oppression by the majority element acting through the democratic process.

American founding father Alexander Hamilton, writing to Thomas Jefferson from the Constitutional Convention, argued the same fears regarding the use of pure direct democracy by the majority to elect a demagogue who, rather than work for the benefit of all citizens, set out to either harm those in the minority or work only for those of the upper echelon.

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oh quit this tired line, nobody is buying it

That's already illegal, just no one enforcing it.

Isnt it a much more realistic idea that corporations raise prices whenever they think people will pay more, regardless of their tax burden?

Bingo.

When they have the public by the balls with toothless oversight from the government, they will still raise prices and they'll use anti-competitive behavior to keep competitors from undercutting them.

Directive 4

Ah yes,

Well, since you can't legally create or enforce retroactive law it's a non-starter anyway.

I'd say if you're at the point where you're selling company stock, then you should be charged.

But Obama added 7 trillion to the debt?

Nope.

In reality 95% of politicians are evil not just a certain party

Nope, in reality the GOP is wildly more evil by every possible measure. 'Not Perfect' isn't the same as 'actively harmful'

Stop schilling, it's transparent, patronizing, and not working. At all.

Stop.

Say I owned 51% of the shares in a billion dollar company. Could I then marry my company, sit on the marriage until it became profitable, then divorce it and take 75% of it's monetary worth over the course of our marriage (half of my 50%in the divorce, I get to keep the other half because it was mine to begin with, and then half of the 49% the shareholders used to own)?

i.e. tyranny of the minority.

The Constitution should be what protects us from tyranny of the majority, not stripping away the power of the common person.

Eh, doesn't fit nicely into a clever acronym. I would think more like:

"Corporate Security of the Livelihoods of Underappreciated Tradesmen Act"

Why isn't this considered treason? They are Americans, giving means of attack to enemies of the United States.

Jesus christ. No they aren't lmao

So if I create a non profit organization and make it a corporation and make myself an employee, can I get lower taxes?

I wrote my senator and congressman about Net Neutrality. I also wrote them about health care, and the tax bill. I inform my (often conservative) friends and family about the realities of these things. I attend protests, alongside an astounding number of people who are equally vocal and use the same tactics.

The end result is net neutrality being killed, health care being gutted, and the middle class being screwed. It's now evident to me that our voices no longer matter. We can bitch on reddit/Facebook/Twitter/IRL and nothing matters, because there's a majority in power that takes their marching orders from lobbyists and cons their base into believing that their actions are righteous.

Rallying cries aren't working. I don't know what does, but our voices no longer matter. I'd rather that people be informed on how futile the resistance is so they could start to think about how important their actual vote is in 2018, 2020, and beyond.

We've lost these battles. I'm done being the guy yelling in the middle of nowhere with nobody of direct consequence giving a damn (my elected officials just don't).

I'll keep fighting, but I'm ready to start fighting the next fight to restore the losses that we've sustained.