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The McCain-Feingold campaign finance law was designed to prevent the "monied interests" from monopolizing political speech. As Justice Stevens so clearly stated in affirming an earlier campaign finance law:
Money is property; it is not speech.But there were loopholes in those earlier laws. Money somehow was managing to get to politicians despite the limits. All you had to do was wink and nod and pretend it wasn't aimed at any particular campaign. In short, water runs downhill. So, Senators McCain and Feingold proposed limiting all money to candidates. Further, they began to count non-monetary contributions, too.
Bradley Smith says that the freewheeling days of political blogging and online punditry are over.Let's recap. We started out saying "money is not speech." But what do we do when we find that speech doesn't take money? Or worse, that speech makes money? Apparently, if a blogger gets an income from his blogging through ads, those same ads are used to value his speech. Further political speech that supports a candidate is then charged as a campaign contribution, and too much speech may be subject to fine.
In just a few months, he warns, bloggers and news organizations could risk the wrath of the federal government if they improperly link to a campaign's Web site. Even forwarding a political candidate's press release to a mailing list, depending on the details, could be punished by fines.
Shocking -- or is it? Since the 1st Amendment was repealed with the upholding of McCain/Feingold, I can't say I'm too surprised.
Posted by: Patterico at March 3, 2005 09:03 PM