“The court has said clearly the First Amendment protects the right to free speech,” Keating said. “The government can’t pass a law limiting how much money a campaign can spend or how much speech a campaign can do. That’d be like saying newspapers can’t have a circulation more than 100,000.”
If liberals really want to reform campaign finance law in a way that would damage billionaires, they should seek to raise or eliminate the cap on individual campaign contributions. Lifting the $2,700 limit would make it easier for other candidates to close their money gap with candidates like Trump.
“For most of our country’s history, we elected Lincoln, Roosevelt, Washington, Eisenhower … who [were] allowed to collect unlimited contributions,” Keating said. “Campaign finance restrictions, there’s no evidence they’ve done any good to make for better government. All it does is complicate things for people and make it harder to run outsider campaigns.”