The reasons why not seem obvious at first glance, especially nowadays. Are there reasons it should be allowed? This thread was sparked by an Ohio law that banned them from contributing which was then challenged by a lawsuit.
Why should they be prohibited from donating to a political campaign? I’m not an Ohio resident and I can contribute even though I’m not eligible to vote in any election there. I’m hoping the plaintiffs prevail.
My personal belief is that campaign contributions ought to be disallowed from outside the jurisdiction where the election concerns.
So no foreign contributions to Federal elections, no out-of-state contributions to state elections, no out-of-district contributions for City council, and so forth.
Otherwise it skews things something awful if someone’s got rich and motivated friends from elsewhere. Do we really like billionaires from Texas funding stuff in Ohio? Or rich Saudis funding stuff in Federal elections? Or rich people from Dallas funding Houston City Council races?
I think a lot of this sort of funding-from-without is a big part of our current problems w.r.t. congressional elections.
I’m also not convinced that donating money should be considered “speech” in a 1st Amendment sense.