"So it turns out that instead of reducing the amount of money in politics, contribution limits force candidates to spend more time groveling for money. Unfortunately, the “reform” community also complains that candidates spend too much time fundraising." - from the Center for Competitive Politics web site.
My personal experience as a former state chairman, former member of the Libertarian National Committee and a current chairman of a federal PAC is that a tremendous amount of energy, resources and time is spent by political groups attempting to comply with poorly written campaign finance laws, rather than getting better people in elected office. Of course, this is exactly what the incumbents currently in power want.
These incumbents are also grateful to nonprofit groups like Common Cause, who even though they are well-intentioned, help spread the falsity that all we need is just another campaign finance law, and all will be better (after 33 years of the federal trend with campaign finance laws, you'd think they'd recognize failure staring them in the face).
Campaign finance laws are keeping groups like the Libertarian Party busy with regulatory compliance, instead of changing the power structure. I wish these do-gooders would let us go back to the corrupt old days, which are still the current new days, and give the Libertarian Party and others the chance to get elected without finding the rich man/woman who will fund their own campaign.
By the way, most rich men/women did so in the current governmental regime, so they have lots of reasons not to buck the system, so the pool of rich men/women extremely wealthy who can fund their own campaign is very limited for us, and not to the Democrats or Republicans, exactly as the incumbents want it.