Well, it’s actually only been formalized. We’ve all known for sometime that corporations have been funding political campaigns for sometime. Whether we’re talking about Unions or Churches, or formalized businesses, small or large, incorporated or LLC’s. They all do it.
The Supreme Court decision which conveys this though as permissible might be a huge misstep for all Americans. Just at a time when we’re on the precipice of another financial downturn, the court takes this step to further undermine our confidence in our financial system, our legal system, our political system and ultimately our country.
I say this because by formalizing the right of corporate America to pour (additional) money into political campaigns the power pendulum has further moved to corporations OVER individuals.
Think about that for just a moment. This is another step in our countries movement to provide corporations with the same rights as individual citizens.
While a corporation is made up of citizens who work and run it, it shouldn’t be viewed as an entity with the right to life. Capitalism in fact demands that the death penalty be imposed on it if it doesn’t meet up to it’s obligations to serve its constituencies, customers and share holders.
After the most recent Supreme Court decision, the individual constituent, mom and pop America will never be able to walk into a congresspersons office and gain an audience that will hold as much weight as say, Apple, General Motors, or Chevron-America. Who’s appointment would you cancel if you only had time for one?
No. Mom and Pop America are screwed. Even Political Action Committees and grass roots organizations will never hold the clout, financial, political, media as NBC, IBM or Exxon-America. The sad thing is – these corporations ARE Mom and Pop America. We’ve disguised it of course, with fancy financial schemes and offerings but where does the money for your 401k go? Well, right to Westinghouse, American Airlines and Shell Oil-America of course. In the form of mutual funds we all invest in these companies. They take our money, with the promise to grow it. By the time we retire, or so the theory goes, we have a nest egg to which to supplement our Social Security, which in itself isn’t a guarantee of existing by the time many of us reach the age of retirement.
But what happens if the corporations squander all their money and go bust? Well, don’t worry. Mom and Pop America will bail them out. Under fearful terms like “too big to fail” we couldn’t possibly let all those investments go out the window. But, by giving corporations carte blanche to go ahead and squander that money on trying to buy influence, they have essentially given the green light to the erosion and ultimate destruction in the faith of the American financial system.
So, I give you my money over the years through my 401k and you squander it. That’s ok. Now you’ll take a bail out through my taxes. It appears, almost as I’m paying TWICE and never really have a guarantee of ever seeing a return. Because the typical American investor, not unlike the typical American voter is too disillusioned and to apathetic to actually follow the trail of money it’s not likely AIG-America will ever be accountable for all that money. No, Wells Fargo-Americal will never really have to make a full account because now they’ve just purchased a chunk of where the real power lay, in the U.S. Legislature.
Do you really think they will regulate themselves to prevent themselves from gaining access to money and influence that would thwart their own re-elections? Far from it. They’ll schmooze Macy’s America and if it all comes crashing down, Mom and Pop America will just have to come up with the funds.
After all, Bank of America will be OK. So will the Insurance congolerates. The true catastrophe may lay ahead. In a system where corporations, take our money and give it to legislatures, who will now protect corporations OVER individual citizens there’s no incentive for the single voice in America.
The legislative agenda, the direction of the country and in fact the very electoral process itself will now be decided in block rather than vote by vote. If you thought the American single voter was disillusioned and detached before – just wait a few elections cycles. All this bodes bad for America. Well… unless you’re McDonalds – and you’re floating your guy Ronald for president. On second thought how could that clown be any worse than the ones sitting on the Supreme Court?