Quantcast
Connect with us

Citizens United may turn businesses into political parties: panel

Published

on

The Supreme Court’s Citizens United decision could turn businesses into mini political parties, something that businesses themselves don’t want, said experts at a Washington economic development panel.

The Supreme Court brought down Citizens United in January of this year, effectively overturning a century of campaign finance laws and allowing unlimited, secret spending by special interest groups. That seemed like good news for special interest groups and corporations seeking friendly policies in Washington.

ADVERTISEMENT

But according to a poll (PDF) conducted by the Committee for Economic Development, a majority of business owners don’t look forward to spending ever-increasing amounts of money on elections in order to have their interests represented in Washington. And some feel that the blending of business and politics under the new regime will undermine both businesses and lawmaking.

Sixty-one of the business leaders surveyed by the CED said they felt pressured to contribute to political efforts, the survey stated.

Anthony Corrado, a professor of government at Colby College, told a CED panel last week that the new spending rules appear to be leading to a “political arms race” where companies are being pressured into spending money on elections that they would otherwise be spending on their business.

“This poll underscores what business people across America already know: the political system is broken and large amounts of money are flooding the system and corrupting the democratic process,” said Ed Kangas, a CED trustee and former CEO of accounting firm Deloitte Touche Tohmatsu.

“These huge undisclosed contributions that pay for campaign ads are distorting the political process and are a major reason why Congress has become so dysfunctional,” he added.

ADVERTISEMENT

Corporate spending on elections “has become so blatant … that the American people have finally figured it out,” Kangas told a discussion panel last week.

Speaking at the panel, Politico assistant managing editor Jeannie Cummings argued that Citizens United will turn some businesses and industries into political forces of their own, independent of any one political party. Cummings named ethanol and coal as examples of industries becoming “strong subsets of corporate parties,” according to Courthouse News.

DAMAGED CORPORATE REPUTATIONS?

According to DEC, two-thirds of business leaders polled agreed with the statement, “the lack of transparency and oversight in corporate political activity encourages behavior that puts corporations at legal risk and endangers corporate reputations.”

ADVERTISEMENT

Evidence that this is the case is beginning to emerge. This summer, retailer Target came under political pressure from some its customers — including calls for a boycott — after it was revealed the company had given $150,000 to a special interest group running ads for Minnesota Republican candidate Tom Emmer, an opponent of gay rights. Target’s CEO ended up apologizing for the move.

More than 75 percent of business leaders surveyed agreed that corporations should always disclose their political contributions, even if they are sent to third-party groups that don’t publish their donations.

ADVERTISEMENT

Fred Wertheimer, president of Democracy 21, which campaigns against corporate influence in elections, told the panel that undisclosed contributions amount to the “legalized bribery of our elected officials.”

“Wertheimer supports increased small-donor participation with donations matched by public funds,” reports Courthouse News.


Report typos and corrections to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

Breaking Banner

‘Pure retaliation’: Former House national security official slams Trump for firing inspector general

Published

on

On Friday evening, President Donald Trump stunned observers by announcing he would be dismissing Michael Atkinson, the intelligence community inspector general who first relayed the whistleblower complaint about Trump's phone call with the president of Ukraine.

Daniel Goldman, a national security advisor for the House Intelligence Committee, slammed the decision on Saturday, calling it "pure retaliation" and noting that his only offense was following the law when the president did not.

I saw Michael Atkinson up close. He followed the law with the utmost integrity. He did nothing to lose Trump’s confidence other than lawfully and properly expose Trump’s misconduct and the ensuing efforts to cover it up. This is pure retaliation, retribution and reprisal. https://t.co/GStcTOJn4J

Continue Reading

Facebook

Center-left Keir Starmer replaces Jeremy Corbyn as Labour Party leader

Published

on

Britain's main opposition Labour Party named Keir Starmer, a former director of public prosecutions who opposed the country's exit from the European Union, as its leader on Saturday.

Starmer, who has tried to carry the socialist supporters of outgoing leader Jeremy Corbyn while also keeping more centrist Labour members on board, beat Rebecca Long-Bailey, an ally of Corbyn, and Lisa Nandy in the contest.

He won with 56.2% of the vote by party members and supporters.

Continue Reading
 

COVID-19

Video app Zoom rockets to fame, with some hiccups, amid pandemic

Published

on

What does British Prime Minister Boris Johnson have in common with virtual happy hour celebrants and thousands of students around the world?

All use the Zoom videoconferencing application to get together while staying apart during the deadly coronavirus pandemic.

But amid its newfound fame, the Silicon Valley-based company has come under stepped-up scrutiny over how it handles privacy and security -- including allowing uninvited guests to barge in on sessions.

Created by engineer Eric Yuan in 2011 and listed on the Nasdaq a year ago, Zoom has seen its market value skyrocket to some $35 billion.

Continue Reading
 
 
You need honest news coverage. Help us deliver it. Join Raw Story Investigates for $1. Go ad-free.
close-image