For the most part, this is totally the crux of our political system. Here in California, we tried to put a proposition up to change at least a portion of our elections to be publicly funded. And of course, the same people that ..... and moan that all politicians are corrupt voted down the only prop that would actually start to move us into a cleaner system. If we want effective government, if we want the Ron Paul's or the Dennis Kucinich's of the world to actually have more of a say in our government, then we need to absolutely abolish the way we allow corporations to pay for elections. It is the ONLY way to a Just government system. Until then, we have a few good apples in congress/Senate that don't require a ton of private interest funds to get elected, but then we have an exponentially large amount of bad apples that require special interest money to get elected, and they know how to keep getting that money--its not by providing the proper service to the voting populace.
That's pretty cool, but I don't think public funding is the answer. Looking at the state of California's fiscal issues, I would have voted it down too.
What I would like to see in a proposition is strict campaign limits, both in duration and cost, for all state-level appointments and lower (this would include state senators and congressional representatives).
You have one month. Your campaign can cost no more than $2500. Any PACs or similar organizations that support the candidates must coordinate their efforts with the candidates, as any money they spend campaigning for or against any candidate counts towards the campaign limit.
Thousands of small businesses do well with far less.