Political Bandaids

The U.S. Supreme Court decided that non-persons (corporations), while they don't get to vote get to bribe make political contributions. As there was no such thing as a corporation when the Constitution was written, it seems to be that the solution is to eliminate them.

Radical idea? Not really. With infinite life, limited liability and a goal of maximizing profit for the stockholders, they really aren't compatible with a democracy that is supposed to just be representing people. I am not suggesting an end to business ownership just that if you want to profit from a business venture you should also be responsible for its actions. Partnerships, yes. Corporations, no.

Unfortunately, congresscritters (who generally got their jobs through corporate handouts) can't handle this idea. Instead they suggest more increases in the size of government. Here are the related examples.

  • The Business Should Mind Its Own Business Act (H.R. 4431): Implements a 500% excise tax on corporate contributions to political committees, and on corporate expenditures on political advocacy campaigns.
  • The Public Company Responsibility Act (H.R. 4435): Prevents companies making political contributions and expenditures from trading their stock on national exchanges.
  • The End Political Kickbacks Act (H.R. 4434): Prevents for-profit corporations that receive government money from making political contributions, and limits the amount that employees of those companies can contribute.
  • The Corporate Propaganda Sunshine Act (H.R. 4432): Requires publicly traded companies to disclose in SEC filings money used for the purpose of influencing public opinion, rather than for promoting their products and services.
  • The Ending Corporate Collusion Act (H.R. 4433): Applies antitrust law to industry PACs.
  • The End the Hijacking of Shareholder Funds Act (H.R. 4487) This bill requires the approval of a majority of a public company's shareholders for any expenditure by that company to influence public opinion on matters not related to the company's products or services.

Let's just admit creating corporations was a mistake and fix it. After I wrote this, I was pointed to an article that, at least today, in not true. But, for how much longer?