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Summary: The Public Financing System

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The public financing system was “established in 1976, the public financing system entitles the major party nominees to take up to $84 million of taxpayer funds for their campaign. In return, candidates agree not to take private donations, so they’re effectively limited to the $84 million (pro).” But there is also an alternative route that candidates can choose and that is the Private route. This route limits individual donors to only $2,300 dollars which is well over the $250 dollars as stated before. This is the smart way to go if you plan on having a successful campaign just like Obama did. Inflation within the campaigns have been steadily increasing and as prices continue to climb, the maximum contribution does not have the same level of buying power that it used to. A candidate who received $1,000 during the 1970s was able to make far more purchases to help their campaign than a candidate who receives the same amount in the present day. Thanks to inflation, a candidate now needs to raise three or even four times the amount that they are accustomed to raising in order to achieve similar results on the campaign trail. This is good for the people because now instead of the candidates getting millions handed to them, they now have to work twice as hard to get to the same position …show more content…

“There was much controversy surrounding this bill; President Bush himself had concerns about the constitutionality of portions of this legislation. The act eliminated soft money donations, but doubled the amount of direct donations that are allowed (debate).” In 2010, the Supreme Court ruled that the McCain-Feingold Act of 2002 was unconstitutional. With the case Citizens United v. Federal Election Commission, the court found that the act was unconstitutional because corporations' and union's rights under the First Amendment were being

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