Financial Answers "IN SIMPLE LANGUAGE"

This follow up piece from my blog article of January 27, 2010, titled “The End of American Life As You’ve Known It” is still questioning why the Supreme Court of the United States is exposing you to more corporate control.

If you read my previous blog article-if you didn’t, please read it first-you will remember that the Supreme Court has given a blank check to corporate America and unions to use as much money as they want to influence our elections.  This, in effect, will give corporations control over the electoral process not you.

This has caused an enormous uproar among the American populace.  Surveys are showing that approximately 80% of Americans are against this Supreme Court ruling.  This breaks down to about 85% Democrats, 76% Republicans, and 81% Independents that are against this ruling.  This survey shows that almost all Americans are against this ruling.

With that said ask yourself this question, “Who does the Supreme Court of the United States of American represent in legal matters”?  Does the court represent the voices of the people of the United States as stated in the first amendment and I quote, “Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press, or the right of the people peaceably to assemble, and to petition the government for a redress of grievances”.  Or does the Supreme Court include a non- living entity, a corporation, as having the same “freedom of speech” as we the people as the first amendment “ONLY” mentions?

Reverse Your Decision

Of all of the people who were polled about how they felt about the Supreme Court decision, 72% said they supported a reversal, by congress, of the Supreme Court’s decision.  Such congressional leaders as Senator Chuck Schumer have jumped on the bandwagon to get congress to reverse the court’s decision.

Even Senator John McCain predicted that the American public would not accept this ruling… Senator McCain was one of the original sponsors of campaign finance law.  And he was right about the American public.

Campaign Finance Laws

As far back as the 1890’s, legislatures were aware of the enormous influence that deep money pocketed corporations could have on the influence of elections and politics.  That’s why the Tillman Act of 1907 was passed to ban direct corporate contributions to federal political candidates.  Think about this for a minute.  Corporations usually have huge treasuries…deep pockets if you will.  You are a shareholder of this corporation and yet its leaders are spending, in fact, some of your own money to promote a candidate that you are deeply opposed to. 

You can’t or won’t be able to do anything about that because the Supreme Court has now given “free speech” and a blank check to corporations to do what they want to do whether it hurts or helps you.  The Supreme Court, at least five of the justices, doesn’t seem to care about you.

After numerous attempts by corporations to get around the Tillman Act of 1907, congress added additional protection to prevent corporations from taking advantage using their huge treasuries by adding additional prohibitions in its Taft-Hartley legislation in 1947.  These prohibitions barred corporations and unions from using their general treasuries from making independent expenditures during elections to fund candidates they wanted to promote.

What congress did do, unfortunately, is allow the creation of separate accounts to fund political action committees commonly called “PACs”.  These PACs could only be funded by employees and shareholders who put in their own money, not money from the corporation’s general treasury.

With the passing of this Supreme Court ruling, all of these former laws and rules will go by the wayside as corporations will now have the ability to directly influence political candidates.  And what about foreign corporations?  What role do you think they will play in our future elections?  The First Amendment is in the Constitution of the United States of America not a foreign country.  Yet this foreign countries will be able to, more than they currently do, affect the outcome of who sits in the White House and congress. Why is the Supreme Court, at least five justices, interpreting the law in favor of a non-person rather than what the first amendment has definitively expressed…we the people.

Is this what you want?  Call your congressional representative and let them know how you feel.

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