My position is this: The decision has been made. Rather than complain about it, let's direct our energy toward correcting the situation. Let's examine the alternatives, choose the best one, and then promote that solution.
Here are eight solutions, starting with the worst ones and ending with the best:
1. Amend the Constitution to over-ride the Supreme Court's decision. Whoa! Let's get real. It will not happen. Let's put our energy elsewhere.
2. Ban political advertising by companies that receive money from the government. This will not work either. It can be argued that the Supreme Court decision would, by implication, also strike down this attempt to limit political spending by corporations.
3. Give candidates free TV air time for political messages. Most of political campaign expenses are for TV time. I don't think this idea will get to first base.
4. Stockholders can raise Cain with management, and let it be known that they do not approve of the company spending money for politics. If we examine the money spent on politics by corporations in the past, only about 50 percent of it makes any sense in the long run, and a huge amount of money has been wasted. For instance, when corporations supported McCain, and Obama won, all that money was wasted. They could have used that money for more sensible things.
Stockholders know that corporate spending on politics has increased dramatically, and will likely continue to increase -- it is money paid into a never-ending pit.
The problem with this idea is obvious: Many stockholders may not feel the need to make this change.
5. Impose an excise tax on corporate donations to political committees. This has been called the "Business Should Mind Its Own Business Act." Don't you just love that title?
6. Perhaps the outrage about the Supreme Court decision will help people support the "Fair Elections Now Act," which provides federal financing for congressional elections. This solution has the backing of Moveon.org, the Service Employees International Union, the League of Young Voters, Ben Jerry's and many other groups.
7. Here is a neat idea: Require publicly traded companies to report to the SEC and itemize all money spent for politics. This has been called "The Corporate Propaganda Sunshine Act." What a delightful name!
8. Here is a solution that is related to number 4. Pass legislation which would require shareholders to approve political spending by their corporation. The Brennan Center for Justice supports this idea.
All of these solutions have problems; yet I support the last alternative, above. It is simple and straightforward; and does not require expensive new laws to enforce it.
It will be interesting to see if stockholders are willing to step up to the plate on this issue. Management will present strong arguments supporting the need to continue to spend money on politics; that it is a tried-and-true method of making sure the company makes money. "If we stop doing it," they will say, "It will be a disaster!"
All eight suggestions seek to reduce the increasing power of money in our elections. None of the measures will be easy. Yet the anger in the public about this win for corporate power can shift things. That which once may have seemed impossible may become not only possible, but likely.
Stanley Peele serves as an emergency judge throughout the state. Readers can contact him at chh@heraldsun.com or c/o The Chapel Hill Herald, 2828 Pickett Road, Durham, NC 27705.
