We all know the wealthy and well-connected are accustomed to playing by their own set of rules. Their high-powered lawyers and lobbyists write special exemptions for them that the rest of us would never be able to get.
For instance, G.E. made $14.2 billion in profits yet paid no taxes to the federal government – in fact, they got a refund. Despite crashing our economy and getting a massive bailout from taxpayers, the big banks somehow evade meaningful financial industry regulations. Corporate CEOs are slashing the jobs, wages and retirement of rank-and-file workers, but still giving themselves record bonuses and golden parachutes.
It’s not that there aren’t rules that we should all live by to make this a more fair and equitable society. It’s just that corporate CEOs and billionaires know how to get around those rules by creating a maze of exemptions that allow them to gain even more power at our expense.
This unfortunate reality is on full display with a November ballot measure its backers say is about getting “special interests” out of politics.
Problem is, Prop. 32, the so-called “Stop Special Interest Money Now Act” isn’t what it seems. It’s bankrolled by anti-union millionaires. It does absolutely nothing to stem the flow of money into politics from wealthy corporations. In fact, it exempts all of them (and many more corporate interests like real estate developers, insurance companies and Wall St. hedge funds) while silencing the voice of unions and workers.
And if they succeed in tricking voters into passing this measure, you better believe it won’t stop there. This is just the first step of the one-two punch that ends with us losing our rights and all of the things we value, like workplace health and safety, wage protections, health care, retirement security… even our right to have a union at all. In short, Prop. 32 is the most anti-worker measure we’ve ever seen.
Here’s how it works. The anti-union millionaires claim the measure applies to both unions and corporations equally – but there’s a catch. The initiative is cleverly worded to specifically restrict unions and workers who choose to pool their money to have a voice in politics, while exempting secretive Super PACs and corporate front groups. These shadowy groups would still be able to raise unlimited amounts of money from corporate special interests and billionaires to support their candidates or defeat their enemies.
This isn’t campaign finance reform. It isn’t balanced. And it certainly isn’t fair. That’s why we’re calling it the Special Exemptions Act, because these loopholes mean that big business interests would still be allowed to contribute directly to political candidates, and corporations can still spend unlimited amounts through their Super PACs. And the measure does absolutely nothing to prevent anonymous donors from spending unlimited amounts to influence elections. Doesn’t sound much like reform, does it?
Those behind this measure aren’t do-gooders trying to reform government. They’re corporate executives and anti-union millionaires who will stop at nothing to drown out the voices of working people. If this deceptive measure passes, the result would be a devastating tilt in power to big banks, corporate CEOs and their lobbyists that would further undermine California’s middle class.
That’s precisely what the corporate special interests behind this measure have in mind. And it’s up to all of us to stop it from happening. Learn more and join the fight to Stop Prop 32.