Should billionaires have to disclose their political contributions?
The Intercept has a story about a billionaire sneaking into a Jeb Bush fundraiser. It points out:"Bush’s campaign operation has taken steps to conceal the names of certain big-money donors. ... Bush’s Right to Rise also formed a 501(c)(4) issue advocacy wing, which, like a Super PAC, can raise and spend unlimited amounts of money — but unlike a Super PAC, never has to reveal donor names."This leads me to ask two questions:
- Should billionaires be allowed to spend unlimited amounts of money promoting their politics?
- If they can spend unlimited amounts, should they be forced to disclose them?
If you know me, you know that I'm asking a trick question. I'm not referring to venture capitalist Ron Conway, the billionaire mentioned the story. I'm instead referring to Pierre Omidyar the billionaire founder of eBay who funds The Intercept, which blatantly promotes his political views such as those on NSA surveillance. Can Omidyar spend endless amounts on The Intercept? Should he be forced to disclose how much?
This question is at the heart of the Supreme Court decision in Citezen's United. It comes down to this: the Supreme Court was unable to craft rules that could tell Continue reading