Politicians, the reform industry, and the news media clamor to reduce the influence of money in elections while the American public watches a congressional encore that runs contrary to Constitutional law. Reformers continue to propose more restrictions on donations and advertising, and incumbents new subsidies for themselves. Not at all. It is true that the public distrust of politics is widespread. Campaigns seem meaningless, with over 98 percent of U.S. House members winning reelection.
Voter turnout is in a long-term slide.
But previous campaign finance reforms that have sneaked past the courts have not resulted in more competitive elections or more independent governance. There is little reason to believe new restrictions will help. The staged controversy over campaign finance is actually a distraction. The goods of today's political system are special protections, subsidies, grants, or regulations that fall outside the realm of public health and safety. In a regime of unchecked commercialization of legislated paybacks, money does not corrupt politics, as the reformers claim.