Word: galbraith
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Dates: during 1960-1969
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...From this outlay," Galbraith continued, "they [the contributors] retrieve enough future income to pay off the investment with a reasonable profit...
...Galbraith does not propose the complete elimination of private contributions. Rather he suggests a limit of $25 per person in any one general or primary election. "All such contributions would be paid not to the candidate but to the state auditor, who would in turn redistribute them to the designated candidates .... It will be observed that this arrangement would allow public participation in campaign financing and allow a candidate with a genuinely wide following to benefit therefrom...
...support most campaign expenses, Galbraith urges providing "every regularly nominated candidate with a public grant of sufficient size to enable him to get his name, merit, if any, and platform before the people...
...addition to these changes, Galbraith asks that a limit be established on the candidate's contribution to his own campaign. The limit, should "in no case [exceed] a few hundred dollars and in most cases [be] much less; the candidates should also be required "to keep such current records as would allow for a rapid and full audit of their expenditures. Such an audit might be instituted in instances of alleged or suspected violation or as a general enforcement measure during the course of the campaign...
Violation of Galbraith's proposal would result in "severe penalties." "Conviction," he wrote, "should involved disqualification from public office for the term for which the candidate was elected...