May 15, 2012
I am deeply concerned about the influence of corporate money on our electoral process. It has really gotten out of control.
Corporate influence over national politics, legislation and policy prevents small businesses from having a level playing field on which to compete with the big boys. This stifles innovation and increases consumer costs for everything. Further, I don't want the corporations spending my money on causes I do not and cannot support. In many cases, they are circumventing the best interests of their own investors, and impacting their health, their careers, and their ability to support the national economy with their buying power.
In particular, I am appalled that, because of the Supreme Courtís ruling in Citizens United v. Federal Election Commission, publicly traded corporations can spend investorís money on political activity in secret.
I am writing to urge the Securities and Exchange Commission to issue a rule requiring publicly traded corporations to publicly disclose all their political spending.
Both shareholders and the public must be fully informed as to how much the corporation spends on politics and which candidates are being promoted or attacked. Disclosures should be posted promptly on the SECís web site.
Thank you for considering my comment.