The Supreme Court Campaign Finance Judgment basically says in laymens terms that Corporations can spend as much as they want on Political Ads up until the day of the election. So what does that mean to us? It means that any well financed company can get who they want in office, and ultimately, gives them almost total control regarding who gets elected in office.
Usually the Politician who has the most well financed campaign is the one who gets elected. And who controls most of the money in this country? It’s not the government itself or the politicians, it’s big business. So this ruling is in direct contradiction to the McCain & Feingold Campaign Finance Reform Law which was established to limit the amount of influence a Corporation could have in the past.
The US Supreme Court struck down this law, saying that it limited the amount of free speech Corporations could have regarding the public debate in the political process. The decision was 5 to 4 in favor of this new law. So what lies ahead. Many critics are very concerned that this will allow big business to monopolize the entire political process and think this is the very worst decision the Supreme Court has ever made.
Also of concern is an avalanche of Corporate Spending, which is a tax write off anyway, of big business. Expect to see many more TV ads, political ads in magazines on flyers and even promotional gear during future political elections. Although the people ultimately will decide who goes into office, hundreds of millions of dollars in advertising will go a long way to influence their opinions on who they should vote for.
President Obama seemed to also be opposed to the decision. He mentioned just like I said above that it helps them to continue to wield their power everyday so they can continue to drown out the voices and opinions of your average, hard working american citizen.