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This is a really bad idea.
Activist rich people like Soros, are bad enough. It isn't true that they are wasting their money. Now you want them to be able to just directly buy votes which will not reduce at all the influence they can exert through other means of funding politicians, journalists, NGOs. Which includes both direct quid pro quo but also attack dogs organizations that influence outcomes by attacking people who don't play along.
My impression with your constant "its fine" is that you rather sympathize with the ideological characteristics and agendas of the people who are most involved in funding politicians who do have some similarities ideologically, and even ethnically (plenty of Jews very highly overepresented among the top republican and democrat donors) and want them to get their way. In observing the results of their agendas, these rich activists are more fanatical, less objective, and reasonable on various issues, like policing, prosecution policies, DEI, relations with Israel, than what a good policy, that is independent, objective and in line with the common good would promote. They have bad ideas of how to change things, and their character is questionable too.
I would rather someone like Sam Bankman Fried who was one of the top donors in last election, to not be deciding things.
They are also more connected with foreign governments too. The negatives of one's goverment becoming subservient to foreign goverment interests are real and it is pretty obvious how this would lead to bad governance against the interests of the actual people but in line with the interests and agendas of foreign governments and billionaires.
These rich activists, do not have an inherent right to rule and in fact such claim for their right to run things can be very fairly interpreted as a form of treason. My wacky idea is that they can in fact be stopped from exercising their current influence, and their NGOs banned, and restricting large donations, giving all candidates a goverment backed x amount of money and a right to get small donations. In so forcing politicians to not have to do what AIPAC, ADL, a shitload of NGOs, or rich donors want them to do. Which will result in representative democracy which is already like many systems, a flawed system and not a perfect formula, to come closer to something that could potentially work.
That and restricting citizenship rights to natives with minor exceptions and restricting numbers of foreigners and deporting where there has been mass migration. Not allowing parties to hack democracy by replacing the electorate with foreign population who has to be loyal and prioritize getting away with replacement, or other benefits. Which is it self constitutes an example of a violation of the inherent rights of a people for their continued existence and service of their common good, since you are replacing them and destroying their nation, and also putting the rights of foreigners above them.
Modern states should take much more seriously the currently huge problem of treason and of the violation of the rights of the people that happen when their rights are disdained and foreign groups are favored. Even if we consider a society to not just be one nation's state that has guests but a multiethnic society, even there the consideration of not screwing the majority ethnic group of its inherent rights, which include cultural/ethnic rights, to perpetuate their ethnicity, instead of having an oppressive negative identity that treats this as evil.
Plenty of constitutions have things written in line of this, but an unwritten constitution has been followed that does the complete opposite. My wacky idea is restore the nation state democracy and enforce it, while restricting the agendas that destroy it. Down with the idea of fake postnationalism oppresses the natives, while allowing nationalism for groups of the progressive intersectional coalition.
The influence of billionaire activists and most NGOs result in a very skewed, harmful direction. With enormous overepresentation of certain identitarian agendas and complete absence of the interests of other groups such as white people in the USA for example. It represents massive agency problems and makes a complete mockery of the idea of democracy. So yeah, my idea and favorite evolution of democracy is one in anti corruption, anti treason, where both laws and elite ideology is against the DEI, replace the natives, multiculturalism (which isn't even genuine multiculturalism but no culturalism for natives and allowing culture and nationalism, and even extreme versions of that, for approved groups), and where such tyrannical agenda is not allowed to run the media, governments, NGOs. Where it is taught as an example of tyranny, oppression, corruption and civilization destruction. It has backlash today where its supporters have marched on institutions and created their influential networks, NGOs. Imagine how much it would be hated if it was encouraged to dislike it.
So under this system there would be much fewer influential active NGOs, while all these state within a state NGOs would be banned and subject to further justice measures where necessary and where they are found to have done other crimes like spying. NGOs should be few and influential NGOs involved in activities that enhance the common good, and not in civilization self destructive criminal agendas. They must operate under a framework that has such restrictions, so you don't get any new ADLs to ever come into existence.
I would also add that the system to not become predatory internationally, while should be very adamant and vigilant against foreign subversion, and agendas at the expense of one's own nation and represent a self confident civilization that perpetuates it self and serves its common good and its interests, it should be willing to have genuine win win cooperation with foreign nations were there is a genuine opportunity to do so, rather than being predatory and out to win by screwing over others. Else it isn't a scalable model.
Living in a European country with state financing of political parties, it is utterly alien to me to donate to political campaigns. I know it happens, but I would never do it (aren't you psychologically locked-in after donating to Trump/Harris?) and the amount of effort and time American politicians have to raise funds seem gross.
I looked up how UK does it and they actually harshly restrict political expenses:
https://www.instituteforgovernment.org.uk/explainer/election-spending-regulated-uk
If the UK (or Canada or Australia or whichever country) is better governed is debatable, at least theoretical raising funds could also be a useful signal in a democracy, but I wonder how an election cycle in the US would look like if Democrats/Republicans (and GreenParty/Libertarian) could only spend $100 Million each?
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I'm confused. Presumably, these would be substitute goods. That is, suppose someone is spending 100 on funding politicians, journalists, and NGOs right now. Then, an alternate means of political influence arises, say, the money vote. It may, in fact, be plausible that they might even want to increase their total spending, but the nature of substitute goods would imply to me that they would even then spend something more like (made up numbers) 70 units on funding politicians, journalists, and NGOs; 60 on the money vote. It seems unlikely that they'd continue spending 100 on funding politicians, journalists, and NGOs... and another 30 on the money vote.
One of the things I actually sort of like about the scheme is that it would be a substitute way of channeling money. Probably one that I'm even a bit more comfortable with than the traditional ways folks use money to buy political influence. We might even get some data about relative values of things, which could help with election design in the future.
Most of the rest of your comment seems almost entirely inapplicable, as it completely ignores the two main features of the proposal - the limited strength of the money vote in comparison to the traditional election, and the strong secrecy. I kinda feel like your response is just sort of irrelevant if it doesn't consider those features.
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