By Cameron Berube
In the wake of Citizens United, political spending in the 2016 elections already have reached dizzying heights. And since most companies refuse to disclose their political spending, it’s hard to know who’s backing who.
According to a new report from the Center for Political Activity (which benchmarks the political disclosure and accountability policies and practices of mutual funds), major mutual funds like Vanguard, which manages more retirement funds than any other firm in America, are doing next to nothing to encourage companies they hold large shares of to disclose how they use our money to influence policy.
So what are public companies doing with your money? Deregulating Wall Street? Gutting Medicare?
Americans are fed up with being drowned out by corporate interests. According to a 2015 poll, 88 percent of both Democratic and Republican primary voters agree that “the Securities and Exchange Commission should require corporations to disclose their political spending.” More