Although proponents of campaign finance reform often proclaim too much money is being spent on politics, New York City’s new matching system might actually increase the total amount expended. For complying with certain caps, participant-candidates can receive $6 in matching funds for every $1 donated. That means a $175 check, which is the maximum amount the city will match, magically transforms into $1050--all courtesy of city taxpayers. Mayor Bloomberg signed the legislation into law this past summer, but is now expressing second-thoughts at the $90 million price-tag.

HT: New York Magazine