This book examines the baser elements of capitalism that overwhelm and undermine democracy and concludes that a constitutional amendment restoring campaign spending limits is the only reform that can truly get money out of politics.
Term limits won’t kill Super PACs. Ranked-choice voting won’t stop wealthy elites from purchasing public office. Public financing won’t stop corporations from spending billions of dollars on political ads distorting issues and dividing the public. And overturning Citizen Unitedwon’t stop candidates from begging wealthy elites for large contributions. In essence, efforts like these may slow, but will not stop wealthy individuals and power brokers from buying our elections, laws, and politicians. Only campaign spending limits can accomplish these tasks.
Campaign spending limits is not a new idea. It’s not reinventing the wheel. Federal spending limit laws were passed in 1911 (Publicity Act Amendments), 1971 (Federal Election Campaign Act or FECA), and 1974 (FECA Amendments). By 1975, 34 states had also passed laws restricting a candidate’s spending in state and local elections. In response to Watergate, arguably the nation’s biggest political scandal, the far-reaching 1974 FECA Amendments sought to permanently remedy the systemic rot of the entire political system. The law set spending limits on presidential and congressional candidates, independent groups created to influence elections and public policy, and wealthy candidates seeking to use their family treasure to buy public office. But in January 1976, the Supreme Court killed spending limits. Since then, more and more money has been pumped into America’s political system every year, thoroughly corrupting our politics and government. This is why a constitutional amendment is needed to override the Court and restore to campaign spending limits to citizens.
Spending limits is the foundation on which to pass other campaign reforms, building the bulwark necessary to protect democracy from the baser elements of capitalism and effectively get money out of politics.
