Supreme Court strikes down 'millionaire's amendment'


	Supreme Court strikes down 'millionaire's amendment'

rustajb

6-26-2008 1:40 PM

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6-26-2008 6:07 PM

masbury

Forget ever having another middle-class president. It's only for millionaires now.

6-26-2008 7:24 PM

rustajb

Yeah, there will never be another Carter (regardless of whether you think he was good or not). The elections are bought and sold just like any other commodity, now more than ever.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/52612c32-3fce-44cd-9059-f80066c42056/B7922363-B050-4D3F-A329-FEF168B85C9D/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.newsvine.com/_news/2008/06/26/1612866-supreme-court-strikes-down-millionaires-amendment" href="http://www.newsvine.com/_news/2008/06/26/1612866-supreme-court-strikes-down-millionaires-amendment" style="font-size: 11px;">www.newsvine.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.newsvine.com/_news/2008/06/26/1612866-supreme-court-strikes-down-millionaires-amendment"><H1 id="articleHeadline">Supreme Court strikes down 'millionaire's amendment'</H1></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.newsvine.com/_news/2008/06/26/1612866-supreme-court-strikes-down-millionaires-amendment"><P class="leadin"><A href="http://washingtondc.newsvine.com">WASHINGTON</A> — The Supreme Court on Thursday struck down the "millionaire's amendment" as an unfair way to help opponents of wealthy candidates who spend from their personal fortunes.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.newsvine.com/_news/2008/06/26/1612866-supreme-court-strikes-down-millionaires-amendment"><P>The law allows candidates to receive larger contributions when their wealthy opponents spend heavily from their personal fortunes.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.newsvine.com/_news/2008/06/26/1612866-supreme-court-strikes-down-millionaires-amendment"><P>The court says by a 5-4 vote that the law violates the First Amendment.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.newsvine.com/_news/2008/06/26/1612866-supreme-court-strikes-down-millionaires-amendment"><P>The law was challenged by Jack Davis, a New York Democrat who has so far spent nearly $4 million of his own money in two losing campaigns for Congress and says he will spend another $3 million this year.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.newsvine.com/_news/2008/06/26/1612866-supreme-court-strikes-down-millionaires-amendment"><P>The amendment is part of the 2002 campaign finance law, but has come into play in relatively few races. Its most prominent beneficiary so far has been Sen. Barack Obama. He was able to attract additional contributions for his Democratic senatorial primary campaign in Illinois because an opponent spent nearly $29 million of his own money.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/B7922363-B050-4D3F-A329-FEF168B85C9D/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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