Well, I disagree. I understand what you are saying, as a Libertarian...you are probably concerned that your chosen candidate would not be considered "legitimate". But have no fear, Libertarians, Democratic Socialists, Green Party, etc. would all be represented.
Who says? And who is included in "etc."? If it is existing government deciding who will be considered as "legitimate" candidates, then I think I have plenty to fear. Maybe I'm too cynical, or lacking in imagination, but I'd like to know who will be deciding what a 'legitimate party' is and how that would be implemented. How would the system to decide who is legitimate, and who is not, remain free of exactly the same political pressures corrupting our government presently?
And what about outside groups that wanted to spend money on behalf of a candidate or party, would their spending be included in the total, or even allowed? Would there be a dedicated police force assigned to silence this kind of promotion? It's hard to imagine how you can implement any meaningful controls on campaign spending without serious freedom of speech issues.
Think about it.....if they were all on equal financial footing, their voices wouldn't be drowned out by "the big two".
I've thought about it quite a lot. And I can appreciate where you're coming from. It's certainly not ideal to have big money and special interest groups deciding for us who the 'legitimate' candidates are, but replacing that dynamic with government bureaucracy sounds like something even worse.
Chosen by the people of their respective legally recognized parties through the primary process. If you want a legitimate, competitive third (or more) party(ies)...this is about the only way to do it.
Seriously, who decides what constitutes a "legally recognized party"? There would have to be some fairly stringent standards, right? And such standards would be decided by a vested political apparatus with strong motivations to squelch unwanted competition.
Without such standards, if every comer truly gets the same funds, how is that any better? Do you really want to see the American Nazi Party, or Lyndon LaRouche, or the Westboro Baptist Church getting the same share of public funds as the Democrats or the Republicans, or "legitimate" third parties like the Green Party or the Libertarian Party?