Monday, September 26, 2005

John Lott has written an insightful article on the ineffectiveness of McCain-Feingold and similar campaign finance regulation: The American Enterprise: A Short, Unhappy History of Campaign Finance Reform:

"Together with Steve Bronars of the University of Texas, I examined the voting records of the 731 Congressmen who held office for at least two terms from 1975 to 1990. We found that retiring Congressmen continued to vote just as they had in the past, even when focusing only on their voting records after their retirement announcement. On average, they altered their votes during their last term in only one out of every 450 votes—precisely the opposite of what the “vote bribery” theory of campaign donations would predict."

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