Tags: 2014 Midterm Elections | Steve Malzberg Show | supremecourt | campaign | finance | donors

John Gizzi: Campaign Finance Ruling Puts Incumbents on Notice

By Aaron Stern   |   Wednesday, 02 Apr 2014 06:31 PM

Critics are saying the biggest losers are average Americans after Wednesday’s Supreme Court decision to remove limits on aggregate contributions to political campaigns from individual donors.

John Gizzi, White House correspondent for Newsmax, says the real losers will be incumbent politicians.

The ruling, he told "The Steve Malzberg Show" on Newsmax TV, will remake the political landscape in the image of what it was before the 1980s – a time when political upsets were still possible.

"You genuinely had swing elections, major upsets, and incumbency was not the nearest thing to eternal [life]," he said Wednesday.

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Beginning in 2010, with the Supreme Court’s landmark Citizens United decision, the courts have been chipping away at campaign finance limits. Wednesday’s decision is a major step toward upholding the First Amendment’s guarantee of freedom of speech, Gizzi said, calling it "a more democratic approach."

Rick Ungar, co-host of the "Steele & Ungar" show on SiriusXM, said he would agree with Gizzi except that by the court's allowing money to equate to speech, those with more money are potentially given more free speech than those with less money.

"We would be better off if we took that power away from both the Sheldon Adelsons and from the unions, and we put more of that back in the hands of the average, everyday American," Ungar said. "At the end of the day, my argument would be that it's the average, everyday American citizen who tends to lose out, but this is the future."

This ramifications of the court’s decision may be seen in November’s midterm elections, which are already escalating in rhetoric with near-daily verbal attacks from Senate Majority Leader Harry Reid against Republican financiers the Koch brothers.

Reid has taken to calling the pair un-American, but Gizzi said that if Democrats are going to call out Republican mega-donors, they should call out their own as well, such as George Soros.

"Rather than approach it by saying, 'well, if you're going to say that they're un-American, then you better say this guy on the left is un-America,' why don't we just agree that people can disagree on their political positions and all still be American?" Ungar said.

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Critics are saying the biggest losers in today’s Supreme Court decision to remove limits on aggregate contributions to political campaigns from individual donors are average Americans.

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