Yaron Brook has published an op-ed on campaign finance reform in Forbes. Here’s the opening paragraph:
This presidential campaign will be, by far, the most expensive in U.S. history. And it is ironic that John McCain, the co-author of McCain-Feingold, is one of the candidates hustling to raise tens of millions of dollars. One thing is for sure: No matter who wins, the call for more campaign finance legislation will intensify–all in the name of combating the allegedly corrupting influence of money on politics. This is ominous, because what campaign finance restrictions actually do is subject political speech to the corrupting influence of government control.
It’s an excellent column, particularly in its use of telling examples from the current presidential election. Sadly, one need not look far to see the absurdity of the McCain-Feingold law and other restrictions on political speech. His point about total government funding of elections as a sure means of creating a “political aristocracy” in America as particularly apt — and chilling. Based on the numbers he cites, it’s already happening in America, thanks to current regulations.
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