Campaign Finance 'Reform' Has Failed Nation, Voters | John Samples | Cato Institute: Commentary

Campaign Finance 'Reform' Has Failed Nation, Voters | John Samples | Cato Institute: Commentary: 'Moreover, there is little evidence that money has much influence on policy-makers. Political scientists have found that contributions explain little about lawmaking once ideology, party and constituency are accounted for. One scholarly study of lobbying concluded that "the direct correlation between money and outcomes that so many political scientists have sought simply is not there."'

'Even as they fail to deliver benefits, campaign finance regulations impose costs. The incumbents who write them are tempted to make it harder for challengers to raise money. Scholars also have found that reducing campaign spending leads to fewer and less-informed voters.

In addition, those engaged in politics seek to legally evade regulations. So reformers constantly demand new regulations to close "loopholes," producing a complex body of law. Legal advice becomes vital for electoral engagement, discouraging participation — a perverse result for rules purporting to advance democracy.'