Thursday, April 17, 2008
Campaign Spending
In a world, where television, radio, and newspaper dominate the media, a man can no longer get his message out by standing on a street corner shouting it. The decline of the party machines forces candidates seeking federal office to use the media to get exposure to the public, and for the public to get their information. Media time is expensive; this is a fact of the condition we currently live in. Thus, in order for someone to be heard and have their speech mean anything, the Supreme Court has ruled, that money is speech. But there has been many turning points to campaign financing first was the Naval Appropriations Bill of 1867 which was federal attempt to regulate campaign finance had prohibited officers and employees of the government from soliciting money from naval yard workers. Then later on came the Federal Election Campaign Act (FECA) of 1971 which was Repealed Corrupt Practices Act and created detailed framework for regulation of federal campaign financing of primaries, runoffs, general elections, and conventions. It required full and timely disclosure, set bonders on media advertising, established limits on contributions from candidates and their families. It had also permitted unions and corporations to solicit voluntary contributions from members, employees, and stockholders, and allowed union and corporate treasury money to be used for overhead in operating. In the 2004 U.S. presidential election, George W. Bush and John Kerry raised nearly half a billion dollars in private funding in their bids to win the White House. Total receipts for all candidates surpassed $850 million for the primary and general election. As of September 2007, to the field of hopefuls for the 2008 election has raised more than $420 million. Many feel that candidates will need to raise $500 million each in order to have a chance at winning the presidency. Dealing with such huge sums of money also brings the potential for illegalities. Historically, elections around the world have been over whelmed with scandals and corruption. This is why the Supreme Courts have set up so many Election Campaign Acts to regulating donations, spending and public funding. Throughout history we have seen dramatic changes in campaigning in the United States not only with Acts that have come about, but money that has been spent and the technology that has come with it all. What does the future hold for the Campaigning finances?
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