Debating Campaign Finance Reform and Democracy

In recent years, the debate surrounding campaign finance reform has intensified. Critics of the current system argue that unlimited contributions and spending by corporations and wealthy individuals undermine democracy by allowing disproportionate influence over elected officials and public policy. Proponents of the existing framework contend that money equals free speech, thereby reinforcing First Amendment protections.

Using these perspectives, formulate an argument that evaluates the impact of campaign finance on democracy in the United States. Be sure to support your argument with specific evidence from Supreme Court cases, legislation, or political theories.