Buckley v. Valeo

From Conservapedia

In Buckley v. Valeo, 424 U.S. 1 (1976) (per curiam), the U.S. Supreme Court upheld the power of Congress to limit campaign contributions but declared unconstitutional any limits on a candidate spending his own money on his own campaign.

One result of this decision has been a growing number of self-financed, wealthy politicians gaining election by spending their own money, including Jon Corzine, Michael Bloomberg, Peter Fitzgerald and Arnold Schwarzenegger.