January 24, 2012
Because I am very concerned about our Democracy, I am writing to urge the Securities and Exchange Commission to PROMPTLY, if not immediately, issue a rule requiring publicly traded corporations to publicly disclose ALL their political spending.
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 COVERT political activity. Corporations are NOT persons as our nations' founders conceived Democracy with "one person, one vote."
I think that someone who considers a corporation to be a "person" entitled to a SECRET influence in elections, is truly supporting profit over Democracy. Especially since the original filing was known to be an error. That is taking advantage of more than a 'loophole'; it is taking advantage of investors who deserve to know how their monies are used. Even worse, it perverts our Democratic government.
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.
Thank you for considering my comment.
Stephanie Free
Ash Fork, AZ