January 18, 2012
The issue of corporate money being used to influence our electoral process invites a very thorough corruption of Congress and skewing of elections. Corporations can advertise mis-information with their megabucks, which they did two years ago with impunity. At the very least the practice of donating huge amounts of money to the candidates and the parties in general must be exposed. It causes a very lopsided and unfair election process. It makes me feel that America is bought and paid-for by big business. I don't think the vast majority of us want that. That's not democracy.
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 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 and conspicuously on the SEC’s web site.
Thank you for considering my comment.
Holden Beach, NC