November 8, 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.
The Constitution of the United States is for government of the people, for the people, and by the people. We are a very mobile nation insofar as corporate job movement. A corporation should not be able to support local and state governmental issues,but only national issues.
Employees do not support all of a corporation's political goals and thus do not represent their employees' wishes. Corporations are responsible to their shareholders whose only wish is profit. This can mean any abuse of our natural resources, a practice not considered abuse by profit-motivated corporations. Corporations have enough power in our government and shamelessly feed like hogs at the trough of corporate welfare.
Thank you for considering my comment.
Sincerely,
Tom Cox