November 26, 2012
Dear members of the Securities and Exchange Commission:
I am writing to urge the SEC 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 SEC's web site.
Corporations are not individuals: they are comprised of many individuals within an organization. Shareholders invest in corporations and have a right to know how their money is being used. Workers produce the products sold by their corporations, and they have a right to know where the wealth they have generated is being distributed (ie if not in their paychecks.) Corporate CEO's do not own the money that is invested in and generated by the corporation. Therefore, they need to be accountable to those who invest the money and produce the corporation's products. Corporate administrators and boards cannot be allowed to hide where they make contributions using other people's money.
Thank you for considering my comment.
Donald Foxworthy MD