The U.S. Securities and Exchange Commission (SEC) will consider a rule to require disclosure of political spending by publicly traded corporations in April. By putting this rule making on its agenda, the SEC is responding to the Supreme Court’s decision in Citizens United, which ended restrictions on independent corporate spending for public communications that influence elections.
San Francisco cab driver Brad Newsham does not believe that corporations are people and that money is free speech. And he wanted to do something big to get his point across. So he went to the beach, brought a helicopter and 1,000 friends. This video shows what happened next.
Ever wondered what keeps payday lenders and the CEOs who pay poverty wages up at night? It’s not the 1,950% interest rates they’re allowed to charge Missourians on payday loans, or how the employees who make them rich are able to survive on $290 a week.
Here in Missouri, we know what terrifies the payday lending companies and corporations who want to keep paying poverty wages: It’s the convergence of faith, community, student and labor organizations who collected 350,000 signatures in the past 18 months to cap the rate on predatory loans and give minimum wage-earning workers a raise.
Lost in the barrage of news coverage about the Arizona law yesterday was the fact that the U.S. Supreme Court refused to allow Montana or any other state to impose limits on independent election spending because of the 2010 Citizens United v. Federal Election Commission ruling. Montana had a 100-year law on the books that restricted corporate spending on elections.
A New York Times editorial addressed concerns over the Supreme Court’s decision:
With Big Business pushing Congress to pass legislation granting a “tax holiday” for hundreds of U.S. corporations, a new study shows that despite a similar tax holiday in 2004, corporations slashed nearly 600,000 jobs through layoffs even as they collectively saved $64 billion from what they otherwise would have owed in taxes. Under a tax holiday, corporations could bring trillions in overseas proft back to the United States in exchange for a hugely reduced tax rate on that profit.
Stunning, just stunning. Nearly 17,000 people applied for jobs at a Ford plant in Kentucky, according to USA Today. The applications are now going into a lottery and Ford will determine who gets to proceed to be considered for the 1,800 jobs that pay $15.51 an hour. No doubt not everyone who applied is unemployed, to be sure–but it’s likely a good number don’t have jobs.
The nation’s greedy corporations and insatiable wealthy are fattening themselves on workers. There’s no trickle down. It’s the opposite; the rich have been sucking the economic lifeblood from the middle class for decades.