The real root of political corruption
The recent Supreme Court decision in Citizens United v. Federal Election Committee knocked down long-standing restrictions on corporate and union contributions to political campaigns and was a definitive move toward the restoration of free speech in America. Yet many Americans are up in arms over the ruling, viewing the decision as an invitation for rampant corruption in Washington. While people are right to be concerned about political corruption, there’s a serious misunderstanding here about what gives rise to it and how it can be eliminated.
As Yaron Brook explained in a 2008 forbes.com op-ed, the problem is not the “allegedly corrupting influence on money on politics,” but rather subjecting “political speech to the corrupting influence of government control.”
It’s true that in a free system, money does give you a greater ability to get your message out; this is precisely one of the reasons it’s desirable to earn wealth. If this is what campaign finance advocates regard as corrupt, which system would they regard as uncorrupt? One in which a person’s ability to promote his viewpoint is unrelated to the financial resources he’s earned (whether personally or through voluntary contributions).
This is why campaign finance advocates have not been appeased by McCain-Feingold, and are calling for complete public financing of political elections. Under such a system, candidates would no longer have to financially earn the platform from which they speak; instead, the government would furnish candidates with your tax dollars. Of course, not every potential candidate could receive public funding under such a system: Only “serious” candidates would.
Who decides which candidate is serious? Those presently holding government power. There is no surer way to create a political aristocracy in America.
But what of the fear of corporations supporting politicians in exchange for favorable legislation? Isn’t that a form of corruption justifying restrictions on their freedom of speech? The real question is: Just who is corrupting whom? Read the rest of this entry »



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In Ayn Rand’s Atlas Shrugged, there’s an unforgettable Thanksgiving scene at the mansion of Hank Rearden, a self-made millionaire industrialist whose achievements include the invention—after ten years of toil—of a revolutionary new metal, stronger, cheaper and more durable than steel. In addition to Rearden, seated at the table for Thanksgiving dinner are his mother, his wife Lillian, and his brother Philip, all of whom are wholly dependent on Rearden and his wealth.
On Friday
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