A while back the Supreme Court of the United States ruled that campaign finance spending limits violates free speech. This ruling seems to rest on two key assumptions. The first is that corporations are persons and are thus entitled to free speech. The second is that spending is a form of free speech and that it should not be limited.
In regards to corporations being persons in regards to free speech, this would seem (as I have argued elsewhere) to entail that they must be treated as persons across the board. This, as I have argued, would seem to lead to absurdities that thus expose the absurdity of treating them as persons in this regard. Naturally, there can be good reasons for allowing collective rights-but these do not require that the entity be regarded as a person but merely as a collection of people.
Also, there is the obvious concern that granting corporations rights is unfair because it gives groups an extra advantage over an equal number of unincorporated individuals. For example, if a corporation has 500 members, they can make 500 contributions to a candidate and also another contribution as the corporation. 500 individuals can make 500 contributions, but they do not get that extra corporate contribution. To use an analogy, imagine a store is having a special in which each person gets a free item (like a small ice cream cone). If three individuals go to the store, they each get the item. But, if there are three people who form a corporation, they would get three items plus a fourth for the corporate person. That seems rather unfair. As such, taking corporations as people seems to be a system of miraculous multiplication-it creates extra super-people out of a collection of normal people. This seems both questionable and unfair.
In regards to spending being free speech, that seems slightly dubious. Suppose that spending money for political purposes is considered speech. Now, it is clearly acceptable to try to persuade a politician by speaking to him or her. If spending is speech, then I should be able to try to persuade politicians by speaking to them with money. However, this sort of thing already has a name, specifically bribery. But, if spending is a form of free speech, it would seem that bribery should be acceptable as a form of free speech. This seems absurd, to say the least.
It might be countered that the contributions cannot be direct bribes in that there can be no direct giving of money in return for specific actions or promises to act. However, it would be extremely naive to believe that campaign financing is not intended to do just that-namely to influence behavior by providing money and support.
However, suppose that spending is taken as a form of speech and thus protected by the right of free expression. It does not, of course, follow that such speech should be free of limits. After all, limits are justly placed on speech in other cases. The stock example is the yelling of “fire” in a crowded theater in which there is no fire. In the case of unlimited spending by corporations, this does serious harm to the political process by increasing the influence of corporations far beyond the number of people who make them up and thus proportionally decreasing the influence of those who are not in control of corporations. To use an analogy, it is on par with having a public discussion in which the people controlling corporations are allowed to use sound systems up on the stage and individuals are expected to try to shout out their views from the crowd.
As might be imagined, I believe that it is a mistake to allow corporations such unlimited spending.