Word: moneyitis
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...Citizens United v. Federal Election Commission, the Supreme Court case that struck down limitations on corporate political advertising, may not be the growth in corporate political action it spurs. Indeed, it is unclear that such growth would even occur. Before Citizens United, corporations could spend unlimited amounts of money on ads blaring, “Candidate X is an immoral, incompetent liar.” Because of Citizens United, those ads can now say, “Candidate X is an immoral, incompetent liar. Vote against him.” The difference is real, but not transformational...
...more important consequence of the decision has been a remarkably vibrant discussion of how best to get money out of politics. Harvard law professor Lawrence Lessig has called for a constitutional amendment reversing the decision combined with public financing of elections. Congressman Chris Van Hollen and Senator Chuck Schumer have proposed requiring corporations to subject all political spending to a shareholder vote, which would presumably cause such spending to grind to a halt. Yale professors Bruce Ackerman and Ian Ayres suggest denying federal contracts to corporations that engage in political spending, and Ackerman and Congressman David Wu have formulated...
...Hollen and Schumer’s and Ackerman and Ayres’ more modest suggestions could attract more support, though it’s always safer to bet that Congress will find an excuse not to act. But all are worthy, and all would shrink the influence of money in politics more than Citizens United grew...
...question is whether they’re enough. Experts have for years tried and failed to prove a relationship between the strength of campaign finance laws and levels of corruption and public trust in government. Some of this is no doubt due to the subtleties of how money infiltrates the political process. Outright corruption, though real, is less common than implicit quid pro quos or even looser expectations of reciprocity. However, if the bills have failed to reduce corruption, which is easier to study and identify, how likely is it that they have significantly clamped down on means of influence...
...time, then, to stop money from entering at a different point in the process. As its name suggests, campaign finance reform is premised on the notion that legislators’ actions are largely influenced by who donates to their reelection committees. This is true, but not the whole story. Another equally troubling entry point for corporate influence is in the lawmaking process itself. Interested parties do not merely participate by donating to campaign committees. They hire lobbyists to argue their case with Congress by session. These lobbyists do not convince just due to force of their arguments. Sometimes, yes, they...