November 6, 2013
SEC Comment file 4-637
Dear Comment file 4-637,
I am deeply concerned about the influence of corporate money on our electoral process.
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.
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 SEC's web site.
I am an investor in a number of major US corporations, among them Microsoft, GE, CSX, McDonalds, ADM, Altria, Mattell, etc., and I oppose Corporations being able to spend company money for political purposes.
That money is partly my money, and I object to the way they spend it without my consent. Please intervene and stop this abuse of shareholder rights.
Thank you for considering my comment.
Sincerely,
Joseph B Earnshaw