The President is an example (and actual) enforcement mechanism for the State. Not the argument.
We want to ban independent political expenditure past a certain dollar threshold. Great. How do we do that without torching legitimate civic and commercial participation, and without accidentally entrenching rich participants even more? I'm unconvinced you can do that, and unconvinced that ads are a worthy enough evil to be worth the try, particularly if it requires amending over the First Amendment. ("If" is an operative word.)
We want to ban independent political expenditure past a certain dollar threshold. Great. How do we do that without torching legitimate civic and commercial participation, and without accidentally entrenching rich participants even more? I'm unconvinced you can do that, and unconvinced that ads are a worthy enough evil to be worth the try, particularly if it requires amending over the First Amendment. ("If" is an operative word.)