Are Corporations People?Posted: November 3, 2011 | |
The Supreme Court’s Citizens United decision in 2010 paved the way for unlimited anonymous corporate campaign contributions. I’m of the opinion that only living, breathing, VOTING Americans should have the opportunity to make contributions. The idea that a corporation, which has tremendously more resources than most ordinary Americans, can be so influential in our elections is inherently flawed.
Corporations are made up of people – each of whom has the right and opportunity to contribute to election campaigns. Citizens United, in effect, gives those running corporations twice as much power to make influential contributions. And let’s face it, even though most politicians say that campaign contributions do not make them beholden, the evidence proves otherwise!
The Socially Responsible Investing industry has been a loud opponent of corporate campaign spending. We recently sent a letter to the SEC providing detailed comments to the rulemaking petition submitted by the Committee on Disclosure of Corporate Political Spending in August. Our letter was submitted on behalf of a coalition of international investors managing more than $690 billion. Krull & Company is a signatory on the letter.
Yesterday, a group of Senators introduced a constitutional amendment that would give Congress the ability to regulate federal campaign spending. This would circumvent the Citizens United case and give them the ability to introduce legislation limiting spending to, like I said, living, breathing, VOTING Americans. It would be a tremendous move in giving political power back to the people.