Grayson's Anit-Corporate Takeover Bills

[jeff farias]

(Washington, DC) – Congressman Alan Grayson (FL-8) has introduced legislation to prevent a corporate takeover of government in America.  His “Save Our Democracy” Reform Package (H.R. 4431-4435) aims to stave off the threat of "corpocracy" arising from today’s U.S. Supreme Court decision. 

“The Supreme Court in essence has ruled that corporations can buy elections.  If that happens, democracy in America is over.  We cannot put the law up for sale, and award government to the highest bidder.” Congressman Grayson said.

Here are the bills that Congressman Grayson has introduced, and what they aim to accomplish:

1)  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.
2)  The Public Company Responsibility Act (H.R. 4435):  Prevents companies making political contributions and expenditures from trading their stock on national exchanges.
3)  The End Political Kickbacks Act (H.R. 4434):  Prevents for-profit corporations that receive money from the government from making political contributions, and limits the amount that employees of those companies can contribute. 
4)  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 to promoting their products and services.
5)  The Ending Corporate Collusion Act (H.R. 4433):  Applies antitrust law to industry PACs.

The Supreme Court decision in Citizens United vs. Federal Election Commission legalizes the use of corporate funds in political campaigns, striking down campaign finance laws that date back more than a century.  Congressman Grayson introduced the bills on January 13th, in anticipation of the Supreme Court's ruling.  Each of the five Grayson bills is clear and concise; none is longer than four pages.

“By gutting the 100-year-old Tillman Act ban on corporate contributions, the U.S. Supreme Court has opened the door to political bribery and corruption on the largest scale imaginable. As Teddy Roosevelt said at the time, 'property belongs to man, and not man to property.'  That's why we have federal election laws, and that's why we need them, both then and now,” Congressman Grayson said. 

[TomALT]

Bravo for Grayson. He is clearly one of the few good representatives we have. I would love to see this guy head the Justice Department instead of Holder, who, while sporting a wonderful C.V. has done....mostly nothing....with his position. However, to pull back to the topic, this answer would do nicely to stem the coming tide of corporate buy-offs, er "contributions" in the next two elections and beyond.

For a more permanent solution I suggest: www.movetoamend.org

And for specific wording on a Constitutional Amendment: www.nextamendment.info

Please spread the word.

[Username]

Are unions included in Grayson's bill?  I understand the concerns about corporations influencing political campaigns, but what about unions?  SEIU President Andy Stern has bragged about spending $60 million to get President Obama elected. 

And what about privately financed campaigns?  President Obama passed on public financing (he was for it before he went against it - sound familiar?) and was allowed to raise and spend as much money as possible.  Anyone really think he got all his money from small donors?  No, there a lot of money raised from corporations and unions.

I get it now, corporations bad, unions good.

[udermuder]

user, if u ever worked for a union shop u would know unions-good. they represent the brothers and sisters that built this great nation and every erosion of unions also erodes the greatness that made the USA. unions-people, corporations-money.

[Username]

So, unions can donate money as the please because unions are good, but not companies that employ unions because companies are bad.  That can only make sense to a liberal.

[TomALT]

Here's what makes sense about that: In 2008 Approximately $1B was spent on the Presidential Campaign and $1B was spent on all the other political races combined. SCOTUS Opening the flood gates places maybe a billion or two in union money up against HUNDREDS of billions of corporate dollars. Money to buy influence on environmental, labor, health and a large number of quality of life issues. Those politicians that don't participate will not be able to compete. Bear in mind many of these corporate dollars are foreign corporations seeking to influence our representatives.

I will reserve my usual point that if you work and if you had time to write this it is likely because unions won the 8 hour day and 40 hour week for you so long ago that you forgot they did it for you. Right wing media will do that to your mind. If it were up to corporations you would be working next to 12 year olds in dim fire trap structures. 

Despite this, I would personally be willing to keep both corporate and union monetary influences out of politics and limit contributions to REGISTERED VOTERS ONLY. Only those to be represented should be involved.

See: http://www.nextamendment.info

[Username]

If the unions had worked harder maybe we would have a 35-hour work week common in many European countries.  I realize unions have done a lot for our country, they certainly helped organized crime.  Remember Jimmy Hoffa?

Anyway, back to the issue at hand.  President Obama ran a completely private campaign which allowed him to raise far more money than McCain and avoid many of those pesky FEC filing rules.  Obama raised and spent more money than Bush and Kerry did in 2004.  Obama raised $750 million and McCain about $370 million.  But, then McCain relied on public financing, just like Obama once promised.  Yes, McCain took money from some of the same PAC but not nearly as much as Obama received.

Worried about corporate money fueling a campaign?  Top contributers to Obama include PAC money from Goldman Sachs, Microsoft, UBS, General Electric, IBM, and Morgan Stanley.  Not too shabby for a man of the people.  Now Obama is worried corporate money, what a difference two years makes.

A good start would be requiring those who seek federal public office to use public financing and tighten reporting rules.