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1. Policy Consequences of Campaign roles in finance
Are Campaign contributions the useful equivalent of bribes? The standard knowledge is that donors
should get one thing for his or her cash, however decades of educational analysis on Congress has didn't
uncover any systematic proof that this is often therefore. Indeed, legislators tend to act in accordance
with the interests of their donors; however this is often not due to some quid professional quo. Instead
of donors tend to present to like-minded candidates.
In fact, if candidates opt for their policy positions in anticipation of a subsequent payoff in campaign
contributions, there would be no real distinction between accepting bribes and accepting contributions
from like-minded voters.
However, studies of legislative behavior indicate that the foremost necessary determinants of an
incumbent’s voting record are constituent interests, party, and private ideology. In election years,
constituent interests become a lot of necessary than in nonelection years; however overall, these 3
factors make a case for nearly all of the variation in incumbents’ voting records.
So, why are campaign contributions not like bribes? There are many reasons:
(1) Federal law limits contribution amounts to federal candidates (as do most states);
(2) Bribery and influence peddling are illegal; therefore exchanges of cash for campaign guarantees are
unenforceable;
(3) Legislation may be a collective activity; therefore it might be necessary to bribe an outsized range of
legislators so as to influence policy;
(4) the existence of competing interests raises the value of attempting to shop for a legislative majority;
(5) the existence of a muckraking press and political COMPETITION implies that candidates try and avoid
even the looks of impropriety; and
(6) The diminishing marginal PRODUCTIVITY of campaign spending mentioned on top of reduces the
worth of someone contribution to virtually nil. This last purpose is maybe the foremost necessary.
In 2000, total political spending in federal elections was regarding $3 billion. Contributions from people
to candidates or parties accounted for nearly eighty p.c of this total. The first motivation for individual
contributors is to support ideologically like-minded candidates, to not influence candidate positions.
Further, the existence of those individual contributions drives down the marginal price of contributions
from special-interest teams and hampers their ability to influence politicians.
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