Why can Corporations contribute unlimited amounts?

[LondonReign2]

Help me understand: Why is it that as a citizen I am limited to contributing $2,000 but a corporation seems to be able to contribute an unlimited amount to a candidate?

Witness that Arnie largest corporate backer has already contributed $1.58M in to him the two years since the Gropenator took office.

Wouldn't limiting a corporation to the same $2,000 that I am limited to go a helluva a long way toward fixing what is wrong with election finance?

[shoelace414]

1. When limiting corporation contributions are brought up

so are limiting Union contributions.

[LondonReign2]

4. Yes, and that seems reasonable to me.

But the question is, why is any entity able to exceed the $2,000 individual limit? Wasn't there a ruling that corporations in effect were granted "personhood"? And shouldn't they therefore have to abide by the same rules as I as an individual do?

[leveymg]

2. It's called bundling - all the execs each contribute the max $2K together

If you have 250 high-paid twits working in a Borg Cube, that's half a mil per year out of that one box.

[oregonindy]

3. go watch www.thecorporation.com

and you'll start to understand how screwed we are.

[Freddie Stubbs]

5. Corps. are forbidden by law from contributing to federal candidates

[LondonReign2]

7. To federal candidates? How about to the National Committees?

The national committees amount to the same thing.

[Freddie Stubbs]

8. For some reason both parties have not supported this

[Greyhound]

11. I wonder what reason they could possibly have?

:sarcasm:

[Norquist Nemesis]

6. Three little words: WHO'S YOUR DADDY?

:P

[Orangepeel]

9. I don't think they can

unless I missed a new law that took effect after 2004. Businesses can only contribute the same maximum to a candidate that individuals can. They can (or at least they used to be able to) contribute unlimited amounts to a party, but so can individuals.

The amount that you are talking about that was contributed to Arnie (I'm not familiar with the details) was probably contributed to a PAC or they were talking about the sum of contributions by people who worked at the corporations (sometimes, one individual might get credit by a campaign for raising an amount from others, like bush's "pioneers.")

I'm not defending campaign finance laws -- there is a lot wrong with them -- or corporate personhood, which sucks. But, I don't think your premise is accurate. Individuals generally don't have as much money to give, but I think that anything a corp can do, they can do.

[LondonReign2]

10. Thanks for the response

as I am not as aware of campaign finance law as I could be. Here is the article, which certainly makes it sound as if this corporations are making the contributions:

http://www.smirkingchimp.com/print.php?sid=23634

"Arnie won the recall election by claiming Gray Davis was under the influence of "special interests," but he raised twice the money in his first two years that Davis raised in four years. Davis's "special interests" represented working people, while Arnie's supporters represent corporations and investors, including mortgage lender Ameriquest Capital (Arnie's largest donor, at $1.58 million, since 2003), Univision, oil investor T. Bone Pickens - all three are also Bush's moneybags - California Business Properties, Public Storage, Dreyer's Ice Cream and DHL."

[Orangepeel]

12. Arnie's not a federal candidate

and I'm only familiar with what people in Florida can and cannot do at the federal and state level (and I'm hardly an expert at that). Maybe it is different for California state candidates. :shrug:

But I think more likely, "represent corporations and investors" refers to bundled donations from many rich people associated with corps, as a poster above speculated. Technically, they are donations from individuals, although they probably might as well be one big donation from a corp.

on edit: In 2002 (our last governor's race), both individuals and businesses in Florida were limited to $500 each. That's probably more now.

[Jamison]

13. Unfortunately b/c they own everything & everyone. n/t.

[phusion]

14. Because this is a fascist State n/t