Topic > Corporate Coup - 11:30am

Wall Street's takeover of Obama's government is now complete. It officially began on January 32, 2010, the day the Supreme Court ruled that the government cannot prohibit companies from investing in political spending for elections. Thus opening the floodgates that allow corporations to use their vast treasuries to overwhelm elections and intimidate officials into doing their bidding. Citizens United v. FEC was the landmark court case regarding corporate political spending. Because this allows corporations to pay as much money as they want to the political voter of their choice, the Supreme Court has essentially given more power to the small sector of the population that dominates the economy. A year after this decision was made, a survey was conducted showing that spending by outside groups had jumped to $294.2 million in 2010 compared to $68.9 million spent in 2006 (Kromm). Nearly half of that money came from just 10 groups, and in 60 of 75 congressional races, the candidate who benefited the most from outside spending won with an 80% win rate. Money poured into elections is well hidden because independent groups are not required by law to reveal their donations. 7 out of 10 groups provided no donor information, but donated nearly $138.5 million, or half of their total donations in 2010! A survey by Survey USA found that when asked whether corporate campaign contributions represent “free speech” or “bribes,” 77% of the American population said “bribes” (Kromm). Why is it so dangerous? Well, now corporate managers can actually buy elections directly. They can then use the fact that they help these politicians get into office to threaten them into voting for a bill that says the company could... middle of paper... cannot donate an unlimited amount of money to candidates. Furthermore, there must be complete transparency in the donation made, which means we must know who is donating, how much and to whom the donation is intended. Also, a new law should be passed to stop this revolving door system we have in Washington. This process will not be easy because multinationals will fight against these laws until the end, it is not in their interest for these bills to be passed. It may well be that history records the Citizens Untied decision as one of the most important corrupt decisions of a corrupt age. Corporations have sat in their high chairs for too long, secretly monitoring the government from their dark perches. It's time to shine a light and let the American people know that government doesn't look to corporations, it looks to people.