The Donor Class: Campaign Finance, Democracy, and Participation
THE DONOR CLASS: CAMPAIGN FINANCE, DEMOCRACY, AND PARTICIPATION † SPENCER OVERTON As a result of disparities in resources, a small, wealthy, and homogenous donor class makes large contributions that fund the bulk of American politics. Even in the aftermath of recent campaign reforms, the donor class effectively de- termines which candidates possess the resources to run viable campaigns. This reality undermines the democratic value of widespread participation. Instead of preventing “corruption” or equalizing funds between candidates, the primary goal of campaign reform should be to reduce the impact of wealth disparities and empower more citizens to participate in the funding of campaigns. On av- erage, candidates should receive a larger percentage of their funds from a greater number of people in smaller contribution amounts. Reforms such as es- tablishing matching funds and providing tax credits for smaller contributions, combined with emerging technology, would enable more Americans to make con- tributions and would enhance their voices in our democracy. INTRODUCTION Opponents of campaign finance reform embrace a relatively lais- sez-faire reliance on private markets to fund campaigns for public of- fice. Although they champion the individual rights of those who con- † Associate Professor of Law, The George Washington University Law School. Mi- chael Abramowicz, Mark Alexander, Brandon Briscoe, Kim Christensen, Richard Ha- sen, Adam Lioz, Ira Lupu, Leslie Overton, Josiah Slotnick, Dan Solove, and Fane Wolfer read earlier drafts of this
[Show full text]