I actually believe that money DOES equal speech. But, we routinely regulate speech when it is in the best interest of the community-at-large. Can't yell "fire" in a movie theater, yada yada. No reason that we can't acknowledge that money=speech, yet still impose limits on how that speech is used.
Frankly, I think that the system we have right now, TODAY, is pretty good.
- Limit the amount given to any individual candidate in order to allow support of a candidate, but prevent undue influence over that person.
- Allow a donor to donate money, up to the individual cap, to any/all candidates that the person supports.
- Allow people to spend as much as they want to state their own political opinions, so long as these statements are made independent of, and without collusion from, any candidate.