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View Diary: Good for Some, Bad for All – The High Cost of Our Cell Phone Bills (9 comments)

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  •  Corporate Campaign Contributions (0+ / 0-)

    The Tillman Act was a good first step. We have not made much progress since then. Corporations are still allowed to do indirectly what they are not allowed to do directly - namely, they create Political Action Committees (PACs), fund them with as much money as they would like and then drop $10,000 checks to electeds. It is not just AT&T and Verizon - go to OpenSecrets.org and see just how ubiquitous corporate giving (influence buying) is to our leaders. This is a big scam on our country and I hope you will join me in crying foul (unless you prefer to live in a country of the corporations, for the corporations). I believe people's interests should be supreme to those of for-profit public companies that exist primarily for maximizing return on equity for their shareholders. Feel feel to share private thoughts here: www.jeffkurzon.com/contact. Thank you for your comment. -Jeff

    •  Jeff - not exactly (0+ / 0-)

      Corporations CANNOT fund PACs. All PAC contributions come from individuals, not from the corporate treasury. They are not corporate funds.

      When you contribute to a political campaign you have to disclose your employer. When groups report campaign contributions and aggregate the data they lump all employee contributions together and try to make the inference that these are somehow funded by the corporations themselves. I wish that groups like OpenSecrets would make it very clear that these are individual contributions, either directly or through PACs, and NOT corporate contributions. Rather than being truthful in their press releases, they intentionally give the impression that the campaign contributions are corporate contributions and that theme is then carried on by the media and in Internet blogs.

      When we have House campaigns that can cost up to $10 million to compete, and Senate seats that can cost two or three times that amount, how much influence does $10,000 really buy?

      "let's talk about that"

      by VClib on Thu Dec 19, 2013 at 09:17:18 AM PST

      [ Parent ]

      •  Corporations can easily fund politcians indirectly (1+ / 0-)
        Recommended by:
        VClib

        Dear VClib,

        What I am talking about are "separate segregated funds" (SSFs)- the McDonald's PAC, the Goldman PAC, etc. They are funds collected from the management of these corporations and then delivered to politicians (ever wonder why CEO pay is so much higher than worker salaries?). These managers can just get paid higher and higher compensation to easily cover this expense. The corporations also fund the administrative expenses which can be considerable. Citizens United made it worse - and I am advocating that we overturn that decision by constitutional amendment. See this FEC Brochure. I also support passing a law that would allow for public financing of elections - the best ideas should flow to the top, not the ones with the most access to money - we know this works in NYC to get a less corrupt government and it should be implemented nationally. You are right that elections are expensive, but I believe the status quo needs to change if we are to do things like properly regulate banks, raise the minimum wage, close the carried interest and other tax loopholes for the wealthiest, invest more in education and less on defense, etc. The conflict of interest created by SSFs giving to politicians is real. Thanks again for sharing. Jeff p.s. $10,000 buys a lot of influence - money can translate to power. Will you make a $2,600 contribution to my campaign?
        p.p.s. Have you seen this video?

        •  As someone who knows more about senior (0+ / 0-)

          executive compensation at public companies than all but a few of the people registered here I can assure you that am unaware of any executive compensation that has been increased so the executives can make larger PAC contributions.

          "let's talk about that"

          by VClib on Thu Dec 19, 2013 at 10:08:33 AM PST

          [ Parent ]

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