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California seeks to get between shareholders and corporations

http://www.sacbee.com

"The bill, AB 919, would require corporations to deliver an annual report to shareholders detailing the company's political activities and expenditures.

Shareholders would be able to opt out of having their money used for those expenditures and would be reimbursed with a dividend."

This is absurd because people exercise their free expression through investing in companies. They delegate their speech to the corporation in exchange for profits, and the contract that is created gives the shareholder profits in exchange for letting someone manage their money.

Ignoring that corporations are a creation of the state, this sort of intervention in speech is a ridiculous infringement of the right to contract.

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vagabondvet's picture
Created by vagabondvet 4 years 15 weeks ago
Category: Free Market   Tags:

"The bill, AB 919, would

vagabondvet 4 years 15 weeks 2 days 11 hours ago

"The bill, AB 919, would require corporations to deliver an annual report to shareholders detailing the company's political activities and expenditures. Shareholders would be able to opt out of having their money used for those expenditures and would be reimbursed with a dividend." This is absurd because people exercise their free expression through investing in companies. They delegate their speech to the corporation in exchange for profits, and the contract that is created gives the shareholder profits in exchange for letting someone manage their money. Ignoring that corporations are a creation of the state, this sort of intervention in speech is a ridiculous infringement of the right to contract.

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