I’m sure that many people have noticed that the stories about the presidential election race (the actual election is, of course, more than a year away) are handicapping the candidates by the amount of money they raise. Candidates who raise more money are doing better. The Democrats are beating the Republicans because they are raising more money. The candidates send out pleas for money saying “let’s show them we’re the best! give us all your money!”
Presumably the money all gets spent on television advertising. And I suppose some of it gets spent on salaries. It seems like this is basically a transfer of funds from the involved electorate to the television stations and political consultants.
It seems that the candidate who raises the most money does usually win. But there is at least some element of correlation rather than causation there: the candidate who raises the most money does tend to be most popular.
Spending all that money on political candidates is a colossal waste of time and money. It’s not good for democracy either, as it tips the scales toward the wealthier donors who are more able to afford donations.
We need to somehow make campaigns shorter and much less expensive. Requiring television stations to donate time to all candidates, with some fixed compensation from the government, would be a good start. Much stricter campaign finance laws are a necessity; since the Supreme Court consistently strikes these down on first amendment grounds, we may need a constitutional amendment. An amendment is obviously insanely heavyweight, but what else can we do? We have to break the cycle somehow.
In the meantime, I personally am declaring a moratorium on donating money to any political candidate. I encourage everybody to join me. Give the candidate of your choice your time, your proselytizing, and your vote. Just don’t give them your money. This is not a left-right partisan issue. It’s a democracy issue.
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