If money financing campaigns and Super PACs mattered as much as some people think they do, then this article would not need to be written.

Campaign finance money doesn’t buy elections. The causality probably goes the opposite way that most people think. And besides, the budget that the winner has available to buy votes is generally always orders of magnitude larger than monies raised through campaign financings.

Here’s a good study: go to a place where there is a balanced budget amendment AND discretionary spending is held to a “low” level (by low I mean something that is arbitrary but can be reasonably compared to other places where it would be found to be “high”). Then do a double, blind controlled experiment over a few election cycles of various limits on campaign finance for that area. You track who the winner is and you track how much was spent by the winner and the loser. THEN you have your answer.

-JD Cross