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JGWeissman comments on Politics as Charity - Less Wrong
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Another potential issue:
If money is diverted from small political donations by lots of individuals, does that increase the influence of big corporate donors over politicians?
Could this effect be ammeliorated by getting politicians themselves to value the cancelling of a donation to their opponents as much as a donation to themselves?
Corporations reap some PR effects from donating to charity, so in theory, they'd be even more motivated than individuals to accept diverted matched donations.