Yeah, right. Congress passed the McCain-Feingold-Shays-Meehan campaign finance law to clean up corruption and even the playing field supposedly. My biggest concern is that the law gives Congress the power to regulate what groups like U.S. Term Limits and others can say about incumbents. Our Founders forbid such an arrangement in the First Amendment, which is why crazy federal judges needed a 1,600-page opinion to cook up some crumb of constitutionality. And why the case now sits before the U.S. Supreme Court.
I don’t have anything against money. Moreover, I am definitely not against money in politics. I’ve had cause to ask folks to contribute to political causes and I’ve felt glad, and not at all guilty, when they could. Unlimited power, not money, is the chief political demon. You can agree or disagree with my philosophical view, of course, but what of the conflict of interest Congress has in regulating campaign finance?
Passing the McCain-Feingold-Shays-Meehan bill was absolutely self-serving. Now that we have some experience under the new law even though it’s under a legal cloud what are the facts? The FEC report reads like a commercial.
- The initial impact of the campaign finance law? More money raised.
- Creation of an even playing field? Don’t be a sucker. Nine out of 10 dollars are going to incumbent members of Congress.
- Financial position of one of the laws sponsors, Congressman Martin Meehan? Ranked fourth in the House with a $1.8 million warchest to stomp out any challenger.
- The irony: priceless.
This is Common Sense.Â I’m Paul Jacob.