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Visit jekelly3's column >>

JEKELLY3

Articles Posted: 3  Links Seeded: 0
Member Since: 1/2008  Last Seen: 4/20/2008

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Big Money Economics-America's #1 Political Concern

Sat Mar 8, 2008 4:14 PM EST
business, republicans, democrats, economics, sec-712
By jekelly3
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While reading the "Money" section of the latest USA today I came across an interesting story about economics being the top priority in the upcoming election. The article "What's on voters' minds? The economy, stupid" looks at the Republicans and Democrats economic stance in their respective campaigns. As the market continues to take a fall, many Americans are becoming increasingly concerned about their money and investments. According to the article the "economy is the decisive issue in the upcoming election, topping the war in Iraq by more than 20 percentage points." Also in the article we see the wasted money of donations and a flawed political system.

The next president will be stepping into an economic situation that will be falling even further. Although the situation may last through the end of this year and even further, history has shown us that the market always rebounds. What Americans are looking for is a president to find a way to stimulate the economy and help keep the prices of goods low. Both parties have plans and agendas for the economy if they are elected president of the United States.

The number one point in this article that sticks out is the donations made by Americas top investment firms to the presidential campaigns. The democratic front-runners, Barack Obama and Hillary Clinton have received $55 million and republican John McCain has received $12.6 million, nearly five times less. These amounts are from the entire campaign through January. Its concerning when you see so much money being tossed about. It's naive to think that these firms don't have an influence on the politician's agendas. Our election system is overdue for a correction of policies. These millions of dollars could have been saved and used for other purposes.

We may never see a correction in our election moneys process with the rate we are going. Each year the wasted money increases and we have yet to see a big stance by any politician to correct the issue. Until we have a change in these specific policies we will continue to see our elected officials influenced by corporations.

http://www.usatoday.com/money/markets/2008-03-06-markets-election_N.htm

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  • Public Discussion (7)
Morgan Lunsford

This was an excellently compose, straightforward article. The fact that Americans in any pole would suggest that economics are even in the same ballpark with the war is atrocious. It is hard at this time to imagine how our generation will be perceived by those that follow us after re-electing a war mongering oil tycoon as our leader. We have started illegal wars in foreign lands, displayed an utter disregard for the environment and managed to destroy our economy all at the same time. Now we can only hope for change.

  • 1 vote
Reply#1 - Sat Mar 8, 2008 5:35 PM EST
Bill Harrison

Until we have a change in these specific policies we will continue to see our elected officials influenced by corporations.

Since corporations cannot contribute to politicians' electoral campaigns under federal election laws and individuals may contribute no more than $4,400.00 per cycle are you suggesting that citizens who work for corporations be barred from contributing?

    Reply#2 - Sat Mar 8, 2008 6:06 PM EST
    jekelly3

    Corporations can and do contribute to campaigns. I don't know which "election laws" you are talking about, so by all means please fill us in. This money obviously does not go to the politician him or herself, but it does go to their "campaign." If you read the specific article I am referencing you see the "Top 10" investment firm CORPORATIONS that have made donations.

    are you suggesting that citizens who work for corporations be barred from contributing?

    I did not mention anything about citizens donating. But recently Hillary was busted for accepting donations from a "citizen." This "citizen" was actually a large corp. that donated money in the name of "citizen." So are you suggesting that all money is ligit?

    I'm not saying the US will ever change but we have these parties that find it hard to agree. Its no longer about right or wrong, they each just stick together and stay on their respective sides. Wouldn't we all like to see these elections simplified and not so media crazy? Plus let the corps. keep their money, then prices will be cheaper.

    • 1 vote
    #2.1 - Sat Mar 8, 2008 8:17 PM EST
    Bill Harrison

    Corporations can and do contribute to campaigns. I don't know which "election laws" you are talking about, so by all means please fill us in.

    Really? The FEC disagrees:

    Prohibited Contributions and Expenditures The FECA places prohibitions on contributions and expenditures by certain individuals and organizations. The following are prohibited from making contributions or expenditures to influence federal elections:
    Corporations; Labor organizations; Federal government contractors; and Foreign nationals.
    Furthermore, with respect to federal elections:
    No one may make a contribution in another person's name. No one may make a contribution in cash of more than $100. In addition to the above prohibitions on contributions and expenditures in federal election campaigns, the FECA also prohibits foreign nationals, national banks and other federally chartered corporations from making contributions or expenditures in connection with state and local elections.

    I think what you're referring to are individuals employed by these corporations who may contribute up to $4,400.00 per election cycle which is the reason I asked you if thought certain citizens who happen to be employed by certain corporations be barred from donating. Now it is true that corporations, their PACs, and other organizations like Emily's List may "bundle" individual campaign donations but here the following prohibitions apply:

    Corporations and labor organizations may not use
    their general treasury funds to make contributions
    to their SSFs or to other types of political committees
    or candidates.

    So corporate donations insofar as they involve corporate funds and not individual employee contributions to an affiliated PAC are in fact disallowed under federal election law.

      #2.2 - Sat Mar 8, 2008 11:29 PM EST
      jekelly3

      What I was stating in my previous reply is that corps. do donate to the campaigns. Your law you are referencing:

      The following are prohibited from making contributions or expenditures to influence federal elections

      The key to this is Influence Federal Elections. They can contribute as long as they are not trying to influence the campaign. But we're smarter than that, right? Lobbyist have all the fun.

      • 1 vote
      #2.3 - Sun Mar 9, 2008 9:47 PM EDT
      Reply
      Megan To Pagan

      Very interesting article. I read this on the heels of this article stating that the war is the most important issue. Of course, the Iraq article was written by an non-US citizen so it is just his opinion. But it is the opinion of the previous Prime Minister of Singapore so I assume he knows something about the situation.

      It is very interesting to see who these corporations are donating the most money to. It could be interpreted two ways. First, that those who receive the highest donations are those who are going to owe these Corporations the most favors. Second, especially considering that many of the corporations listed are financial and insurance related, that those who receive the highest donations are those in whom these corporations have the most faith will steer the economy in the right direction.

      • 1 vote
      Reply#3 - Sat Mar 8, 2008 8:52 PM EST
      Martin Westenfelder

      Hot topics rarely capture public attention for more than 6 months, even if the underlying topic remains important. Issue is that humans get tired of worrying about the same thing for a long time, get used to it, and they prefer something more visionary, less old to be told.

      I am quite sure that in autumn, the topics will have altered to "takeover of America by foreign interests" and "immigration" and "criminality and guns". Things that are related to the economic meltdown, but already mentally a step beyond, dealing with secondary effects. The primary issue itself will already be blinded out.

      • 2 votes
      Reply#4 - Sat Mar 8, 2008 9:32 PM EST
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