February 13, 2010

THEY WANT THE RIGHTS OF INDIVIDUALS...:

Democrats hit back on political advertising (Stephanie Kirchgaessner, February 12 2010, Financial Times)

Senior Democratic lawmakers proposed legislation yesterday that would force some of the most powerful political organisations in the US - including the US Chamber of Commerce on the right and MoveOn.org on the left - to reveal the names of the corporations and individuals who fund their advertising campaigns.

The proposal would also force US corporations to notify shareholders immediately of "all political expenditures" and bar companies that have "foreign ownership" of more than 20 per cent from spending money on US elections. [...]

Some provisions in the bill might also face opposition from Democrats, who might object to disclosure requirements for unions and other liberal organisations that do not currently have to reveal information about political expenditures. Mr Schumer said he had the support of liberal organisations that had "nothing to hide" about the identity of donors.

In what the lawmakers said was an attempt to "mitigate the ability of corporate spenders to mask their electioneering activities through the use of intermediaries", the bill would require corporations, unions and other groups organised under certain tax rules - so-called 501c 3, 4, 5 or 6 and 527 organisations - to establish separate "political activities" accounts to receive and disperse political expenditures.


...so just repeal those tax rules and tax them like individuals.

Posted by Orrin Judd at February 13, 2010 9:02 AM
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