Unless you've been living under a rock, you've seen the outrageous levels of spending on campaigns this cycle. What's more, the SuperPac Billionaires are apparently willing to go to unprecedented lengths to get their cronies elected.
It doesn't take much to realize just what Citizens United and the associated fallout has meant for our elections. Individual Billionaires are giving unprecedented sums to SuperPACs to get their way. Sheldon Adelson, a gambling magnate, is just one example, but his $10mil to a Romney SuperPAC means that his voice will be far larger than any of us can afford. In other words, our elections are now a free for all for those that can afford to spend millions on a campaign. And much of it is done through "non-profits" that don't even disclose their donors.
The Special Exemptions Act will only make this worse here in California. It will act like miracle grow for the outrageous growth of campaign spending. Rather than being a balanced approach to campaign finance reform, it leaves loopholes for the SuperPAC Billionaires to drive their armored trucks through. Here are just a few of my favorite Special Exemptions: Sole proprietorships, Real Estate Investment Trusts, LLCs, and LLPs. And there are many more, just waiting for "investment."
All this means that the voice of the wealthy would be even more disproportionate to everyday Californians. The Special Exemptions Act tries to pretend that it is Roundup for our campaigns, but in reality, it's just Miracle Grow for the out of control campaign spending. That's the last thing we need.