February 4, 2013
Dear Members of the Securities and Exchange Commission:
It's long past time to end secret political spending by corporations.
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.
"The fortunes amassed through corporate organization are now so large, and vest such power in those that wield them, as to make it a matter of necessity to give to the sovereign--that is, to the Government, which represents the people as a whole--some effective power of supervision over their corporate use. In order to ensure a healthy social and industrial life, every big corporation should be held responsible by, and be accountable to, some sovereign strong enough to control its conduct."
-Teddy Roosevelt, address to congress Dec. 1907-
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.
Sincerely,
Todd Johnston