Campaign Spending--Monopolists Own America’s Election Money
"Media Companies to Come Out Winners As 2006 Political Spending Heads for Record Books"-Press Release by PQ Media, November 2, 2006.
It is estimated that $3.14 billion was spent on political advertising and marketing communications in 2006. Isn't it interesting that with all of the hullabaloo attached to Campaign Finance Reform and limiting political fund-raising, so little attention is paid to who gets all those $ billions?
Extrapolating from 2004 breakdowns, more than 65% went to broadcast media companies (primarily television and radio). In any given American locality a few of these companies possess the exclusive and virtually perpetual right to broadcast over (and charge for) a tightly restricted number of assigned airwave frequencies. In other words, there is no "ease of entry" for new competitors to spring up. In contrast, anyone with the resources can start a newspaper or magazine anywhere in America-but, you can't start broadcasting over the airwaves!
Do you see a certain irony that, in a country of 300 million that cherishes freedom of speech, a few thousand government-protected broadcasters control the airwaves and the revenues created by elections? Is there a valid reason why, in exchange for being granted monopoly power, these guys shouldn't be required to broadcast campaign materials as a public service? If 65% of campaign costs were eliminated, would there be any need for McCain-Feingold's restrictions on donations?
-Zorroaster