Thursday, March 27, 2008

Campaign Finance Proposal

I am not keen on the notion of full public finance of elections. Money, while it certainly encourages graft and some harm to the political process, is also the great equalizer against incumbents. But I digress, I happened across this awhile, it is a proposal by James Carville and Paul Begala (two professional hacks, though, arguably very good at what they do). Anywhoo, their proposal is that incumbents should be restricted from fundraising altogether and that those that seek to challenge them can raise funds. In the end, the incumbent would get a check courtesy of the government for 80% of the amount raised by their challenger. I actually think 80% is a bit generous as it probably underestimates the value of name recognition attached to incumbency and it doesn't consider that fundraising returns are well less then %100 (it takes money to raise money). Anyhow, I am sure there are a myriad of legal problems with such a proposal and maybe it is thoroughly nutty but it seems appealing to me.

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