Emcee Campaign Finance Reform - Money Is Speech lyrics

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"I don't like all the influence of money in politics"

When people think of Watergate they think of a break-in

But they don't mention the money that Nixon was takin

From wealthy donors to help him get re-elected

Nixon paid them back in favors just like they expected

To battle corruption Congress passed a new law

Capping contributions to a candidates haul

The source of the donations had to be disclosed too

And the F.E.C. was formed to enforce the new rules

Some who felt the law went against the Constitution

Saying limits on money limited free speech too

So the courts kept a limit on how much you can donate

But said spending was umlimited by an outside group or candidate

The more spending limits to promote a cause

Or to point out a rival campaign's flaws

Candidates once snuck with brown paper bags

They now raised money publicly or to PACs

[Hook]

"We should also curb the roll of big money in elections

By capping the cost of campaigns"

Now in the 80s and 90s there was a new gimmick

"Soft Money" that's disclosed but had no limits

It's supposed to cover each party's expenses

But guys like Clinton used it to help their election chances

There was just one problem: Clinton's party was broke

So he asked for more money every time he spoke

And in return for 100 million cash

He let donors use the Lincolen bedroom to crash in

Then the "scandal and reform" cycle happened again

And legislation was proposed by Feingold and Mccain

It capped donations to parties ?

And banned corporate/union issue ads right before elections

But with each new reform comes new loopholes

Tax exempt 527s arose

Because they weren't explicit about whom they supported

Many still raised money without limits to thwart them

"I don't think american elections should be bankrolled

By America's most powerful interests..."

But the most outside money was yet to be spent

Some argued spending limits broke the 1st Amendment

Corporations and unions are entitled to free speech

They took it to court, the Supreme Court agreed!

Super PACs can raise as much money as they want

They can also use union and corporate funds

The only rule is: they cannot coordinate

With a specific party or a specific candidate

But reform opponents weren't quite done yet

They found new uses for 501-c-4 non-profits

Which are a lot like super PACs with more mystery

They haven't had to disclose donors ever in history

Whether Republican or Democrat, you might believe

That spending limits jeopardize the freedom of speech

But with each new cycle of deregulation

More money's being injected into our elections