April 17, 2012
I am deeply concerned about the influence of corporate money on our electoral process. 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.
My contributions as an individual are reported on finance disclosure forms, especially if they are over $100. Yet these huge corporations are given a free pass? And certainly for far more than a measly $100 (which is actually a big deal to me). To allow such huge sums, that remain closeted in darkness, with no public ability to scrutinize, is a total subversion of our demopcracy. Instead the US government becomes another commodity to be purchased by the highest bidder. This is not whatour Founding Fathers intended when they tried to create a country with justice and freedom for all,not just the richest corporations or individuals who can buy their political will.
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.