The Supreme Court loosened the reigns on campaign donations limits for individuals this week, eliminating the aggregate cap, all the in the name of Free Speech. While they may have a point, this ruling will not be good for politics, at least not for a while. This ruling will certainly allow the super rich to have a super influence on who is elected to what office, but it will eventually lead to diminished contributions and political corruption. You see, people with considerable wealth don’t like to give up their money without the promise of a great return, and they certainly don’t want to spend lots of it. So here are two plausible effects of eliminating contribution caps: 1) The cost of influencing an election becomes SO expensive that the ultra wealthy themselves decided it is not worth wasting their money when a smart tax lawyer can get them the same return. 2) As the cost of running a campaign skyrockets, more and more soulless politicians will be overcome by greed and get in trouble taking from their own coffers. But hey, Free Speech isn’t really free, right?
Photo via TradingAcademy.com
Links
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Photo: ota_photos via Flickr
