February 1, 2013
Dear Members of the Securities and Exchange Commission:
It's long past time to end secret political spending by corporations. It never should have been allowed in the first place, but corporate buying of political power has already reached the point of being a self-propagating entity. While corporations have gained the status of individuals, they have no allegiance to the U.S. or to its people. What made America great in the 40s, 50s, 60s and 70s was having a strong middle class. Those middle class people during the last couple of decades have begun to invest in corporations and now we find that our CEOs can use their already over-inflated profits to work against the investors-- behind their backs.
So I strongly support the SEC issuing a rule in the near future that would require publicly traded corporations to publicly disclose all their spending on political activities.
Both shareholders and the public deserve to know how much a given corporation spends on politics (directly and through intermediaries), and which candidates are being promoted or attacked.
Thank you for considering my comment.