Sen. John McCain says the movement he led to reform how political campaigns are financed is dead.The voters can get as mad as they want, but the Supreme Court made it clear that Congress "shall pass no law ... abridging the freedom of speech", and that freedom applies to corporations and unions as well as individuals. Just because you join with other doesn't mean you lose your right of free political speech.
McCain says the Supreme Court has spoken on the constitutionality of political contributions by corporations. The Arizona Republican had sought to regulate them with a landmark campaign finance law he wrote with Sen. Russ Feingold, D-Wis.
Last week the Supreme Court ruled that corporations may spend as freely as they like to support or oppose candidates for president and Congress.
McCain says there’s not much that can be done about campaign financing now. Still, he predicts a backlash over time from voters once they see the amount of money that corporations and unions pour into political campaigns.
McCain's bill was bad from the start and should never have been passed by a Republican House or signed by a Republican president.
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Campaign contributions from companies may not be such a big deal...unions will be more attuned to that medium...as lobbying is more effective for corporations so as to be influencing specific legislation rather than campaign promises that may or may not impact on company issues.
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