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Corporate Taxes and Genetically Modified Salmon

Daily Update


Corporate Taxes and Genetically Modified Salmon

Today in the News

Corporate Taxes

Despite the fact that corporations pay a great deal of taxes, many are still trying to limit corporate rights.

Senior Counsel Hans Bader comments.

"It is odd to see the media disparage the idea of a corporation having rights, given the fact that media companies constantly invoke the First Amendment and other constitutional rights, like the right to a public trial. The most important First Amendment cases in the past half century have been brought by media companies, such as New York Times v. Sullivan (1964), which overturned a damage award against a media company for libel (and in the process radically cut back the reach of American defamation law), and New York Times Co. v. United States (1971), which ruled in favor of two media companies seeking to publish the Pentagon Papers. Most constitutional rights have been held to apply to corporations (and corporations in general, not just media corporations)."


Genetically-Engineered Salmon

The FDA has approved AquaBounty's genetically-engineered salmon.

Senior Fellow Greg Conko comments.

"the AquaBounty salmon has been hugely controversial. Wild Atlantic salmon grow to full adult size in about three years, in part because they only grow six or seven months per year. As water temperatures decline in the late autumn months, a genetic switch turns turns off the gene that produces growth hormone, so the salmon can conserve energy through the winter. Energy conservation isn’t as big a problem for farmed fish, though, because they have easy access to food all year and little exposure to predators. So, AquaBounty engineered Atlantic salmon with a promoter (the genetic switch) from an Arctic fish called the ocean pout, attached to the growth hormone gene from Pacific Chinook salmon. And, voila! The engineered salmon grows year round and reaches normal adult size in about 18 months, lowering the cost of raising them and lowering the price of fish in grocery stores."