Conservative Supreme Court Justice warned us about money as speech
Back in 1978, Justice William Renquist wrote a dissent that is extraordinary reading today. This nugget of jurisprudence was dug up by Linda Greenhouse, who write an excellent NYT Op-Ed titled "Over the Cliff."
This dissenting justice did not take issue with a corporation’s status as a “person” in the eyes of the law (as Mitt Romney recently reminded a heckler at the Iowa State Fair). But corporate personhood was “artificial,” not “natural,” the justice observed. A corporation’s rights were not boundless but, rather, limited, and the place of “the right of political expression” on the list of corporate rights was highly questionable. “A state grants to a business corporation the blessings of potentially perpetual life and limited liability to enhance its efficiency as an economic entity,” the dissenting opinion continued. “It might reasonably be concluded that those properties, so beneficial in the economic sphere, pose special dangers in the political sphere … Indeed, the states might reasonably fear that the corporation would use its economic power to obtain further benefits beyond those already bestowed.”
Noting that most states, along with the federal government, had placed limits on the ability of corporations to participate in politics, the dissenting justice concluded: “The judgment of such a broad consensus of governmental bodies expressed over a period of many decades is entitled to considerable deference from this Court.