In the 2012 elections a record $7 billion was spent. Sounds like a lot, right?
But consider that in 2012 businesses comprising the top 100 leading advertisers spent, according to Advertising Age, $104.5 billion promoting their products. Procter and Gamble alone spent $4.8 billion.
Proctor and Gamble spent $4.8 billion in advertising to support their $84 billion in sales. However, American citizens spent a total of $7 billion in political campaigns for candidates who, after elected, have sway over almost $4 trillion in government spending – a quarter of America’s whole economy. We have plenty of information and competition in the market for soap but not for the political ideas that affect our whole country. Does this make sense?
Senator John McCain criticized the McCutcheon decision saying it will lead to “corrupt public officials.” Senator McCain has been in Washington for over 30 years. He enjoys the lack of competition that limits on campaign contributions produce.
The majority opinion on McCutcheon was written by Chief Justice John Roberts Jr. Justice Clarence Thomas wrote a separate opinion saying that the decision did not go far enough. Thomas supports ending all limitations on campaign contributions.
The McCutcheon decision is great news for American freedom and democracy. Freer markets in political campaigns can only make America a healthier and stronger republic.