March 28, 2014
SEC
I am deeply concerned about the influence of corporate money on our electoral process.
By its very nature, the corporation functions with an ultimately singular objective: to make money. While I expect, as an extensive investor with a multitude of stocks and mutual funds, that my investment and retirement accounts make money, I firmly believe that it is unconscionable to assume that the corporation behaves in the moral, political, and emotional arena as an ethical human being.
We cannot allow the 'corporation' to enter into the moral, political and emotional arena of persuading the decisions made regarding public policy and laws. This is the domain of the citizens and inherent in the type of government we cherish in the United States.
Our government exists as a "social contract" between the PEOPLE (the governed) and the government, with the expectation that the government will make appropriate decisions regarding the health, welfare and well-being for the PEOPLE. Once we allow a non-human entity (e.g. the corporation with the singular mission of profit) to influence public policy and treatment of citizens via covert "donations", we step down the treacherous slope of loss of the original design influenced by the concept of the "social contract". I urge you to, at the very least, demand transparency in the manner and amount of influence (covert "donations"
used for political influence) that corporate entities spend in an effort to persuade public policy, laws and treatment of the citizens.
In particular, I am appalled that, because of the Supreme Court's ruling in Citizens United v. Federal Election Commission, publicly traded corporations can spend investors' money in secret.
Therefore, I urge the Securities and Exchange Commission to issue a rule requiring publicly traded corporations to publicly disclose ALL of 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, which policies, rules and regulations they are attempting to influence. Disclosures should be posted promptly on the SEC's web site.
Thank you for considering my comment.
Sincerely,
Gary Smith