Hip-hop mogul Russell Simmons has proposed a constitutional amendment banning private donations for U.S. politicians running for federal office.
The Def Jam co-founder presented the legislation to anti-capitalist demonstrators in Boston, Massachusetts on Tuesday (15Nov11).
The amendment reads, "All elections for President and members of the United States House of Representatives and the United States Senate shall be publicly financed. No political contributions shall be permitted to any federal candidate, from any other source, including the candidate."
It is hoped the amendment would prevent politicians in office from backing corporations and executives who sponsored their campaign.
According to Simmons, the proposal was written by a "leading senior congressman" who will remain anonymous until his work garners support from Congress.
Simmons tells The Hollywood Reporter, "All the things that ill effect the 99 per cent (of people) are in some way connected to corporations getting priority over people. I'm not saying capitalism is bad, (that) corporations shouldn't sit around and conspire on how to take the money out of people's pockets - they should do that, that's their job, turn a profit to their investors - but it should not be a job to pay off politicians. That is the core of demands of all of the occupations."