Supreme Court Decision on Campaign Finance

In a 5 to 4 decision in Citizens United v. Federal Election Commission announced on 1/21/2010, the US Supreme Court essentially ruled that corporations have the same first amendment rights as individual US citizens. The specific impact was that existing campaign finance restrictions for corporations were invalidated and that any corporation could spend any amount they wanted to support any candidate for any US political office. The ruling would have the impact that even foreign corporations could spend money to affect the outcome of a US election.

I really don't understand how the Supreme Court arrived at their decision but then I am not a US constitutional law specialist. The US Declaration of Independence states that "... all men are created equal" and endowed "with certain inalienable rights". The preamble to the US Constitution speaks in terms of "We the People of the United States". It seems to me that the protections in US law should only apply to US men and woman - nothing here about corporations, either foreign or domestic.

Supreme Court Justice Alito who votes with the right leaning justices and disagrees with the Supreme Court rulings on abortion (Roe v Wade) never-the-less has supported the court's view that a fetus is not a ‘person’ within the meaning of the Fourteenth Amendment. Justice Alito has stated that the US Constitution clearly states that the rights enumerated therein apply to men and therefore not to fetuses. So I wonder how it is that US constitutional rights that he believes don't apply to the unborn off spring of US citizens apply to corporations, both foreign and domestic.

In any case, the US Supreme Court has ruled and we need to play by the rules and accept this ruling. However, I believe that there are some options that the US Congress has to mitigate the effect which would be:

1. Remove the tax deductibility for lobbying and campaign related efforts for corporations.
2. Bar tax exempt status for any Political Action Committee (PAC) that accepts any funding from any source other than an individual US citizen. If the PAC accepts funding from a corporation then they lose their tax exempt status.
3. For financing from a corporation, make them pay an equal amount which would be made available to PAC's with an opposing point of view to provide a balanced perspective. If needed, the money could be collected via import taxes on imports from the foreign company.