Recent estimates put spending on midterm campaigns at over $3.6 billion nationally. That’s enough to buy 7.2 million I-pads, or roughly one dollar for every thousand spent by government. Many say money corrupts politics, but could it be that corrupt politics attracts money?
Despite endless campaign finance regulation, corporations and individuals still find it in their best interest to spend money in the hopes of influencing lawmakers. Why? With a federal budget of over $3.5 trillion (and state and local government spending at around $3 trillion annually), taxpayers are spending $1,000 for every $1 of campaign spending. That’s is a huge potential return on investment.
The solution to campaign finance is not more regulation, but reducing the size and power of government.