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Wealthy Democrats Call for Public Campaign Financing

Some big Democratic donors have a message for Congress: Don’t rely so much on the rich to fill your campaign war chests.

A group of 60 wealthy donors and activists have signed onto a new letter urging Congress to create a system of public financing that would curtail their own influence in elections, according to a copy of the letter being sent to the Hill on Friday.

Signatories to the letter include major Democratic bundler Naomi Aberly, Craigslist founder Craig Newmark, Ben & Jerry’s co-founder Ben Cohen, tech mogul David DesJardins, businessman Arnold Hiatt and Jonathan Soros, among others.

Source: Politico. Read full article. (link)

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  • soflarider||

    This seems like a way to reduce the power of moneyed interests in politics but I'm sure there's some detraction I'm overlooking.

  • ||

    The detraction is that taxpayers foot the bill for electing people that will tax us further, even if we disagree with their policies.

  • soflarider||

    But if we regain control of our elected officials we could ultimately end up saving money. As it is we probably pay more for cronyism than we would pay for election financing. Media outlets could donate time for politicians to have debates and state their positions.
    I'm pretty sure that whoever benefits from things like Obama's $1 Billion presidential campaign spending wouldn't be enthusiastic about it though.