Right . It is not so different than the McLame-Fiendgold Incumbent Protection act .
True campaign finance reform would allow unlimited contributions from US citizens providing:
1) Payment was made via check drawn on a US bank.
2) Contribution was posted on the internet within 24 hours of receipt. Internet listing would disclose full name of the donator, address of the donator, and occupation of the donator. Internet listings would be fully searchable.
3) No contributions to individual campaigns allowed from organizations permitted. This includes labor unions, non-profit organizations, political parties, and businesses.
4) No contributions by non-citizens.
5) Spending records of campaign posted on the internet within 10 days of recording the item or service purchased, the amount of the expense, and the reason for the expense.
6) No public funds expended.
7) Candidate’s website required to link to disclosures on websites of organizations supporting the candidate.
8) Political activity by organizations requires full disclosure. Website would show amount of expense, how the money was used (i.e. advertising, get out the vote campaign, etc), candidate or party for who the expenditure was intended to benefit. Again, posting must occur within 10 days of the expense. Links of disclosures to candidate websites required as indicated in #7.
9) No direct or indirect political activity allowed by foreign organizations.
This proposal allows for unrestricted support by US citizens for the candidate of their choice. However, it also requires full disclosure, and easy access to disclosure, so citizens can make an informed judgement as to who may be influencing a candidate.