
Originally Posted by
Vladimir
By law corporations are U.S. Persons. Anyone can incorporate. If money is the primary determining factor in elections we would have had President Kerry.

Originally Posted by
Lemur
Toyota is majority foreign-owned. Please explain why Toyota should have the same (actually superior) rights to free speech as a U.S. citizen.
I think that this is the most interesting facet of this decision - the reality that substantial power to influence American elections is given back to foreign interests. The Economist ponders on just these concerns here.
As far as I can tell, the analysis doesn’t distinguish between domestic and foreign corporations. Not that it would matter much, since a foreign corporation can always establish a domestic subsidiary, or buy an American company: Cities Service, for example, is a unit of PDVSA, the Venezuelan state oil company. So the ruling allows Hugo Chavez to spend as much money as he wants to helping and harming American politicians...
There is no reason to believe that such foreign interests will be overly keen on transparency, either. Whilst there is a lot to be argued for the concept of transparency in elections, it's bordering on the idealistic. Since most corporations find it hard to be entirely transparent on their tax affairs, one might be forgiven in thinking that they will be less than forthcoming about their manoeuvring for power.
I find it hard to understand why anyone, least of all conservatives, think handing over electoral influence to external powers is a good thing. But then I've never understood the fawning over corporate interest either. To me, smaller government requires more power in the citizen's hands - and thus entities that overpower the citizen (and are almost always in favour of big government because it is easier to control than an empowered citizenry) are by definition antithetical to good conservative governance.
EDIT: Further information: Following Lemur's note about Thomas Jefferson it may be of interest to understand that corporations were quite frowned upon in the early days of the United States. It appears it was extrapolations from the judiciary that really started the rot on widening corporate "rights" and then the discovery by government that larger taxes were to be had. (Wikpedia citation unfortunately)
In the United States, government chartering began to fall out of vogue in the mid-1800s. Corporate law at the time was focused on protection of the public interest, and not on the interests of corporate shareholders. Corporate charters were closely regulated by the states. Forming a corporation usually required an act of legislature. Investors generally had to be given an equal say in corporate governance, and corporations were required to comply with the purposes expressed in their charters. Many private firms in the 19th century avoided the corporate model for these reasons (Andrew Carnegie formed his steel operation as a limited partnership, and John D. Rockefeller set up Standard Oil as a trust). Eventually, state governments began to realize the greater corporate registration revenues available by providing more permissive corporate laws. New Jersey was the first state to adopt an "enabling" corporate law, with the goal of attracting more business to the state.[11] Delaware followed, and soon became known as the most corporation-friendly state in the country after New Jersey raised taxes on the corporations, driving them out. New Jersey reduced these taxes after this mistake was realized, but by then it was too late; even today, most major public corporations are set up under Delaware law.
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