Tax Reform in This Election Year: It's Not Likely
Which Credit Card Rewards Does the IRS Care About?On Super Tuesday, as the United States approaches its first $1 billion election, the chorus sounds a familiar refrain.
The conventional wisdom regarding campaign spending -- that the U.S. is spending too much on campaigns, or that certain groups have too much influence -- reminds me of what Mark Twain said about the the public's attitude toward the weather: "Everybody complains about the weather, but no one ever seems to be able to do something about it."
While some would argue that campaign spending is not a problem, for the sake of argument let's assume that the conventional wisdom on campaign spending is valid. The next logical question would be, what changes could and should we make to the current campaign spending laws?
Limits on campaign spending? The U.S. Supreme Court has ruled that Congress and regulators can do this, but only up to a degree, as beyond a certain point it violates the First Amendment's free speech right.
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