Friday, November 12, 2004

We Already Have Public Campaign Financing

PROGRESSIVE REVIEW - According to NPR this presidential campaign cost the candidates $1.2 billion. That's sounds like a lot until you realize that a calculation we did in 1997 came up with $34 billion in subsidies and tax breaks for just six major industries that had contributed only $31 million to the campaign. In other words, they got about $1,000 back in public dollars for every $1 they contributed.

In short, we have public campaign financing today. You just pay for it after the election. Paying before hand would be a lot cheaper.

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