Politicians are less accountable. The candidate's own campaign is starved for funds. Independent organizations and their spending may make the crucial difference. This approach fosters subterfuge and corruption and a perpetual need to regulate further. The Current Situation Our system of financing political campaigns is indeed in need of reform.
Candidates spend too much time raising money from too many people.
Candidates with their own fortunes have an advantage over those who do not, and wealthy individuals may run for office when they would prefer to support others. Expenditure and contribution limitations push political money underground, into evermore indirect channels where it is hard to follow. The links between political money and the decisions of elected officials become more obscure, and thus those holding office are less obviously accountable. Disclosure requirements do not result in timely, useful data that can be analyzed by the press and anyone else concerned. The FEC cannot now require that candidates and political committees submit reports on contributions and expenditures in electronic form, and so it must reenter that data into its own computers.