LOL.. thanks! I can't follow along nearly as well as I would like unfortunately because these are some intense intellectual debates, and I really should be putting more work into backtesting, but this is a great temporary tangent to clear the mind.
I am trying to follow along though, and I was especially happy with myself when I went to the trouble to read up about the court case that Db mentioned which set a precedent that allowed for unlimited funds to flow into political campaigns, thereby setting up the rich essentially owning the government. Its so painfully clear, and its such a shame that more people don't get involved to do something about it.
It really is interesting to learn how we got to where we are from Dn's history lessons, and although there are sometimes nasty comments, I am enjoying the discussion from both viewpoints. We can't after all have a great discussion if everyone would just agree!
Let's talk about this case, which supposedly allowed "unlimited funds" to flow into "political campaigns."
The holding of the case:
"Holding: Political spending is a form of protected speech under the First Amendment, and the government may not keep corporations or unions from spending money to support or denounce individual candidates in elections. While corporations or unions may not give money directly to campaigns, they may seek to persuade the voting public through other means, including ads, especially where these ads were not broadcast."
http://www.scotusblog.com/case-files/cases/citizens-united-v-federal-election-commission/
So "unlimited funds" were not allowed to flow into "campaigns." What was allowed was for coporations, and unions, to spend their own money to address issues or advocate for or against a candidate. The Court recognized that this was political speech, a core First Amendment value.
The decision got a lot of unfavorable media commentary. Wonder why? Just concerns by editorial writers about good governemnt? Or maybe it reflected the fact that before the decision, only media companies could pour unlimited resources into supporting or opposing candidates. Do you think that gave a lot of power to the owner sof newspapers and TV networks? Do you think they resented having to share the megaphone?
What was so terrible about allowing corprations to spend money to publicize their positions? It's not like they don't have to identify who they are in their ads if they support or oppose a candidate. Isn't the whole basis of First Amendment jurisprudence that there is a "marketplace of ideas" and that the more speech the better? What is so evil about a company opposing ill-informed attacks on its business and the jobs it provides?
Liberals have a tendency to vigorously protect speech they agree with and want to censor everything else. In the case of campaign finance restrictions, it is not just liberals seeking to muzzle free speech. It is incumbents. After all, they are the ones who pass these laws, cloaked in self-righteous rhetoric about protecting the purity of elections. In reality, they are passing laws to censor criticism of themselves and make their reelection easier. Considering the 90%+ incumbent reelection rate, they have done a great job.