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Only a very small percentage of Americans contribute money to political campaigns. For example, only one percent of the population provided 1992 congressional candidates with 77 percent of their money. Most campaign money is donated by special interest groups such as large corporations, by political action committees, or by wealthy individuals.
Campaign finance reform has become an important issue, particularly as we near the year 2000 Presidential election. Reformists call for public disclosure, but this alone will not solve the problem. It is, however, a step in the right direction. Says Fortune Magazine columnist Jeffrey Birnbaum: “…money in politics is like water: it will always find
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Reformists say our legislators should have less spending freedom. This loophole is called “soft money,” and it usually pays for advertisements benefiting a party’s candidates, but excludes the words, “vote for…” (Christian Science Monitor, 2000).
There appears to be overwhelming evidence that campaign finance reform is both needed and wanted in the United States. Charles Wilson (D-CA), who was censured in 1980 for using $28,961 in campaign funds to pay off a $10,000 personal loan and cover checks he had written from his personal account. But many politicians use the money instead on various means of enhancing their images and advancing their careers. To date, many members of Congress have consistently defended drug industry price gouging rather than passing a prescription drug benefit for seniors on Medicare. Vice President Al Gore Delivers Remarks on Campaign Finance Reform. Also in 1999, tobacco companies donated more than $2. According to Common Cause, the nonprofit organization that tracks campaign contributions, the Democrats collected more than $46 million in soft money in 1999, the Republicans more than $49 million. 5 percent of their money on media advertising; 33.
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