By Publicola 

A great article by Brad Smith on Obama’s historic haul and what it suggests about campaign finance reform. 

An excerpt: 

This suggests that partisanship, rather than principle, is what drives most support for campaign finance reform. When one side is being outspent, its partisans naturally want to limit the fundraising of the other side. But if we really are concerned about “fairness,” the best approach is probably to remove restrictions on fundraising altogether, rather than limit the speech of those who are raising money successfully.

. . . 

We should consider it a healthy thing when Americans support their political beliefs with their dollars. What we see in this election is that contributions don’t really cause “corruption” and that we don’t really want the government deciding who has spoken too much and who has not spoken enough. If Obama’s fundraising shows us the emptiness of the arguments for campaign finance “reform,” he will have done us a great service, in spite of himself.