April 3, 2013
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 – and to do so this year.
“Dark money” groups that accept contributions from corporations, but are not required to publicly identify their corporate donors, spent millions of dollars during the 2012 elections. It is a scandal that money from publicly traded corporations – which belongs to investors – can be secretly spent to distort our democracy.
The Supreme Court’s ruling in Citizens United v. Federal Election Commission created the loophole that enables this secret spending, but the SEC has the authority to close it.
Both shareholders and the public must be fully informed as to how much corporations spend on politics and which candidates are being promoted or attacked. Disclosures should be posted promptly on the SEC web site.
It is a proven fact that because of money in politics and Citizens United, this country is in the control of Corporations. Too many politicians have gone into politics because they can get very rich from bribes from corporation, then when these politicians are out of office, the corporations they helped will set them up in very lucrative jobs. This country needs to get money out of politics in order to go from a plutocracy back to a Democracy.
Thank you for considering my comment.