McCain-Feingold is having the opposite effect


iconPoliticians on both sides of the aisle are lamenting the actions of 527 groups. Those are the political action committees (PAC) that raise funds to stump for specific candidates. John Kerry has a huge money advantage when it comes to 527 groups like Moveon.org and their ilk, and that has the GOP hopping mad. Bush has called for the FEC to step up regulation of the groups. But Bush has his own backers, like the Swift Boat Veterans who are actively smearing John Kerry's Vietnam record that he's been bragging about for years. The Democrats want the fed to look into the Swift Boat Vet's finances.

Of course, all this was ushered in by the recent passage of the McCain-Feingold First Amendment Repeal. The campaign finance law was supposed to take the soft money out of politics. But now with both sides refusing federal funding limits for hard money and using widespread 527 soft money, there is more cash than ever in politics. The bill passed with widespread bipartisan support, and was signed into law by President Bush himself, but now they seem to be having buyers remorse.

They have nobody to blame but themselves.



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"When buying and selling are controlled by legislation, the first things to be bought and sold are legislators." -H.L. Menchken

Libertarian campaign finance reform-get the government's nose out of everyone's business, and let people spend as much money as they want, as long as it gets reported in a timely manner.

Posted by: Heartless Libertarian at August 9, 2004 1:05 PM

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