“Crony capitalism feeds on campaign finance laws that give union and corporate political action committees the power of unlimited spending while individual citizens are restricted to $2,500 per campaign. The famous “occupiers” of Wall Street actually got this right. Corporations and unions are not aggregate citizens or political entities and should not be direct players in politics. But individual citizens should be allowed to spend whatever they wish. Our campaign finance system delivers our politics into the hands of monomaniacs, which is what PACs are. Unlike a citizen, who has a range of interests and a stake in his community, a PAC is by definition devoted to a single cause. Its donations therefore, are indistinguishable from bribes.”
Excerpt From: Gilder, George. “Knowledge and Power.” Regnery Publishing, 2013-05-14. iBooks.
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