McCain-Feingold Defeat

Good news!

From the Wall Street Journal:

A divided Supreme Court struck down limits on corporate political spending, overturning two precedents in a ruling likely to affect campaigning in the 2010 elections.

President Barack Obama called the decision a victory for big oil, Wall street and other interests, and said he would work with lawmakers to craft a "forceful response."

The ruling underscored the impact of former President George W. Bush's two appointments to the court. Chief Justice John Roberts and Justice Samuel Alito joined the five-justice majority in ruling that a central provision of the 2002 McCain-Feingold campaign-finance act violated the First Amendment by restricting corporations from funding political messages in the run-up to elections.

"The government may regulate corporate political speech through disclaimer and disclosure requirements, but it may not suppress that speech altogether," Justice Anthony Kennedy wrote for the majority in a 57-page opinion.

The McCain-Feingold law aimed to rein in independent campaign spending by corporations and unions—that is, advertisements that the corporations or unions buy on their own to advocate for or against a candidate.

McCain-Feingold required that they channel their campaign spending by creating a special fund, known as a political action committee, which can accept donations from employees, shareholders and other affiliates. Advocates argued that the law was a valid way to prevent special-interest funds from distorting elections.

But Justice Kennedy wrote that the effort to divide corporate political spending into legal and illegal forms chilled political speech. "When government seeks to use its full power, including the criminal law, to command where a person may get his or her information or what distrusted source he or she may not hear, it uses censorship to control thought," he wrote. "This is unlawful."

This is a victory for free speech.

The decision restores some of our liberty.

What a great week this has been for America!

That, of course, means that Russ Feingold and other Leftists are ticked off.

From Politico:

Russ Feingold is seething mad. John McCain is giving more of a disappointed shrug.

The senators whose names were associated with the landmark campaign finance bill that was partially overturned by the Supreme Court on Thursday had divergent reactions — perhaps reflecting the impact the ruling may have on each of their parties.

“This decision was a terrible mistake,” said Feingold, echoing sentiment among Democrats that the ruling would open the floodgates for corporate money in elections. “Presented with a relatively narrow legal issue, the Supreme Court chose to roll back laws that have limited the role of corporate money in federal elections since Teddy Roosevelt was president.”

McCain, whose party leaders praised the court decision, wasn’t as tough as Feingold. “I am disappointed by the decision of the Supreme Court and the lifting of the limits on corporate and union contributions,” he said.

So Feingold is seething mad.

Now he knows how Wisconsinites felt at his recent so-called listening sessions.