January 18, 2012
I am deeply concerned about the influence of corporate money on our electoral process.
Corporations only exist by the grace of charters granted by the state, and as such they are not entitled to secrecy when it comes to their relationship with the government. As shareholders and as citizens, we the people are entitled to know how - and on whom - corporaitons are spending their political money.
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.
Thank you for considering my comment.
Patrick Mackin
Avon Lake, OH