April 17, 2012
I am vehemently opposed to the influence of corporate money on our electoral process. This undermines democracy and our Constitution. It is a crime against Americans. Our government no longer serves the people as we have redefined business as people and those with money have influence and input. They control information. They obscure the truth. There can be no democracy without full access to honest information.
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 investor’s money on political activity in secret. The Supreme Court is wrong.
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. If it is a public corporation, then full disclosure to all stock holders, including those who own via 401k need the information and are entitled to it.
If any company I own in any manner takes a political view, then I should have a vote prior to that stand or any expenditure. One person, one vote for each issue; for each expenditure; otherwise it imbalances the concept of a democracy into something far different. Something that we rebelled against to found this country.
Until this altrocity is corrected, 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. We must know how much our politicians and policies cost. Otherwise, how can we also purchase our laws? Should Corporations be the only persons who can legally buy a law or politician?
Thank you for considering my comment.
Matthew Tolford
Potomac Falls, VA