The political barriers to amending the constitution are formidable, but I think that systems science can come to the rescue. The negative feedback loop is a time-honored way to keep systems on an even keel.
This diary advances the thought that the negative feedback concept can be applied to campaign finance law in a way that is well within the current lawmaking powers of Congress.
Assembling the political will to accomplish this through legislation is problematic, but so is the amendment process.
Details below:
I am no legislative staffer and certainly not a lawyer, so forgive the plain language. Obviously this would need to be translated into ledgespeak.
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A law establishing a campaign finance equalization fund and other measures to ensure fairness in the legislative process
1. There will be no limit whatever on the amount individuals or corporate entities profitmaking and nonprofit can spend to advocate their political goals.
2. No public official elected or appointed shall accept a personal gift of any amount. Doing so will constitute a felony.
3. Elected officials are banned for life from subsequently accepting employment as a lobbyist or by a lobbying firm. Doing so will constitute a felony.
4. Every campaign contribution direct or indirect will be a matter of public record. Failure to report contributions and amounts will constitute a felony.
UPDATE [5. Every political contribution regardless of size will be subject to a fee in the amount of the contribution. This fee will go into a campaign finance equalization fund.] DELETE AND REPLACE WITH;
5. The campaign finance equalization fund will have an initial appropriation of $50 billion. A surcharge on capital income over $100,000 will be levied sufficient to replenish the fund on an annual basis.
6. Any political candidate who can present petitions constituting five percent of the electorate in his/her jurisdiction will be entitled to a grant of funds from the campaign finance equalization fund equal to the largest campaign contribution on record for his/her specific race.
7. In the case of the campaign finance equalization fund being exhausted, it will be supplemented from the general fund.
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At first glance, one might assume that these provisions would result in runaway spending, but I believe that the systemic effect would be to minimize campaign contributions and create an environment in which the content of speech is again more important than it’s (monetary) volume.
I believe that the net effect of the campaign equalization fund will be to make it unproductive to raise one’s contribution in order to drown out the opposition. More spending simply funds your opposition. The net effect will be that money in politics will be driven to the absolute minimum necessary for the system to function.