In a fundamental manner, our current system of campaign finance is based on the founding principles of our nation. Our forefathers were "elites" and benefited greatly from the "merchant state" that was the basis for our governing system. The great "notions" of the Constitution did little to change the manner in which the state was intertwined with business.
George Washington and many other original "patriots" garnered large sums of money in land speculation during the settlement of the original colonies. They were "granted" large tracts of land, often 100,000 acres or more, which they divided up and sold for vast sums. These grants came directly from the "government", usually from the presiding governor of the colony.
It was a decree by the King of England to cease this speculation anywhere west of the Atlantic drainage that prompted the Revolution. In a sense, we were rebelling against any outside control of these lucrative government subsidies to private profit. Little has changed since then.
Campaign financing by large corporate interests is simply the "financing" of this same process. The "donors" reap rewards geometrically larger than their investment. You can follow the "input" of funds by following the congressional record. Depending on the nature of the bill, corporations that will be affected or wish to effect the current legislation will contribute to those members they believe can make a difference in the outcome.
You can almost guarantee that the sponsors of any bill that benefits special interests will have received large donations from those same interests. There is no secret to this process, you simply need to follow the money.
It is corporations that elect our "public" servants. It was perhaps Lincoln who was elected as the first great "corporate" president. He served as an attorney for the railroads for years before he ran for president and was soundly backed by the corporate railroads. He received four times the funding of any candidate received for any previous campaign.
The railroad land grants, free land presented to the railroads 14 miles on either sides of the laid tracks that they were handsomely paid for above and beyond the grants, eventually equaled ten percent of the continental land mass of our nation. Thank you Mr. Lincoln!
So, this concept of business interests having a predominate say in our political arena is nothing new. The country was based on great speculation and those who profited the most were the most able to continue to profit. It certainly helps the cause if you can keep the lawmakers on your side, for the simple reason that if they are not on your side, they are on your competitors.
There are some positive measures that might contain this criminal behaviour a bit. Certainly, these contributions shouldn't be tax deductible. What exactly is the reason for this anyway? Would you classify a political contribution under marketing? I suppose it is a "cost" of doing business, because that is exactly what the corporations and politicians are doing; business.
The remedy is simple but probably fairly unattainable. We must remove government from the economic sphere. This is exactly the opposite of the blatant direction we have been heading in. We no longer give out our corporate subsidies behind the closed doors of the legislative chambers, we now write the checks in broad daylight. Of course, it is always for the "common good". After all, the economy may collapse if we don't hand trillions over to the collaspsers.
An economy removed from the state would bear no likeness to our world. It would do no good to donate hundreds of thousands of dollars to your local congressman, he would have no power over the citizen consumers. Corporations would have to earn their keep, no longer would they be wards of the state. We would all be on equal footing. Production would be rewarded.
Half hearted attempts will be made to "reform" the existing system to no avail. As long as the fundamentals are in place, business can skirt the regulations. They have good lawyers. And, any serious reform has to be instituted by those who would be hurt the most, our legislators. Everyone knows you shouldn't bite the hand that feeds you!