LENO AND LETTERMAN GIVEN MCCAIN-FEINGOLD EXEMPTIONS
The Federal Election Commission has ruled that political jokes on late-night talk shows are not covered by the new campaign finance law. The law, which takes effect Nov. 6, prohibits special interest groups from airing ads identifying federal candidates within one month of a primary or two months of a general election. FEC Commissioner Karl Sandstrom said the ruling would keep public service announcements, late night comedy monologues, and talk shows that mention or feature federal candidates from falling under the new law's restrictions.

In a related story, Mickey Kaus reports that the FEC has ruled that 501(c)3 charitable organizations are exempt too, because the IRS can police them. But the IRS has allowed these charitable organizations to fund political initiatives in the past, so this looks like a huge loophole.

I'm sure my readers already foresaw this type of crap long before McCain-Feingold ever passed. I'm certain the Supreme Court will strike down McCain-Feingold on 1st Amendment grounds, but that's not good enough for me. There should be no limits on political spending in a free country. People should be free to spend their money however they like, and there would be no need to spend it on politicians' elections if politicians weren't allowed to shakedown Americans with taxes, regulation, and the threat of higher taxes and more regulation.