Supreme Court Rolls Back Corporate Campaign Spending Limits

lorenlal writes "The Supreme Court of the United States must have figured that restrictions on corporate support of candidates was a violation of free speech, or something like that." From the AP story linked above: "By a 5-4 vote, the court on Thursday overturned a 20-year-old ruling that said corporations can be prohibited from using money from their general treasuries to pay for campaign ads. The decision, which almost certainly will also allow labor unions to participate more freely in campaigns, threatens similar limits imposed by 24 states."

Comments

Re:Right of free speech + right of association

[epiphani]

I read up quickly on the methods Canada takes on this, because we actually have - what I would consider - sane laws on this subject.

We limit individuals to a maximum $5000 donation. We limit corporations to a maximum $1000 donation.

Finally, and most importantly, we limit the amount any campaign can spend. For a major federal election, it has to do with the last cycle's vote pull. The major parties generally have gotten around $20 million as a cap for any election.

Contrast this with quotes I remember of saying that the 2008 presidential election in the states ran in excess of a billion dollars.

Just for reference, if you guys down there ever feel like fixing your shit.

Re:America's downfall was person == corp

[ahodgson]

The debt overhang is a lot worse than it was during the depression. Unemployment is getting pretty close - it was 25% during the depression and U6 is probably over 20% now. On the other hand, during the depression the US still had a lot of it's own oil, manufactured its own stuff, and exported real things. So, honestly, it's a lot worse this time than the depression. It's just being propped up by trillions of dollars of government borrowing. It falls apart when people stop lending you that money. I don't know if it'll happen this time, but it won't be that far in the future.

House prices still have a ways to fall. The Federal Reserve basically bought every mortgage issued in 2009. When they stop, interest rates go up.

Keep in mind in your depression comparison that it's only about 1930 now .. give it a few more years.

# "The spring of 1930 marks the end of a period of grave concern...American business is steadily coming back to a normal level of prosperity."
- Julius Barnes, head of Hoover's National Business Survey Conference, Mar 16, 1930

"... the outlook continues favorable..."
- HES Mar 29, 1930

# "... the outlook is favorable..."
- HES Apr 19, 1930

# "While the crash only took place six months ago, I am convinced we have now passed through the worst -- and with continued unity of effort we shall rapidly recover. There has been no significant bank or industrial failure. That danger, too, is safely behind us."
- Herbert Hoover, President of the United States, May 1, 1930

"...by May or June the spring recovery forecast in our letters of last December and November should clearly be apparent..."
- HES May 17, 1930

"Gentleman, you have come sixty days too late. The depression is over."
- Herbert Hoover, responding to a delegation requesting a public works program to help speed the recovery, June 1930

# "... irregular and conflicting movements of business should soon give way to a sustained recovery..."
- HES June 28, 1930

# "... the present depression has about spent its force..."
- HES, Aug 30, 1930

# "We are now near the end of the declining phase of the depression."
- HES Nov 15, 1930

# "Stabilization at [present] levels is clearly possible."
- HES Oct 31, 1931