Though I agree that corruption is out of control in Washington - it is virtually impossible to eliminate.
So government employees cannot own stock? That does not stop their children/spouses/siblings/parents from owning stock for them (in secret, of course). So that is out the window.
And what about precious metals, bonds, real estate, fine collectibles? What about offshore equities bought from a numbered account in a tax-free haven? Or even American equities (stocks) from the same source?
What about being appointed a board member with a ginormous salary (when they retire) in return for political favors when they were in office? What about the same to family members?
Warren's plan will not work...it will just force corruption farther underground.
I say make it that every person can only give $100 to a candidate's election campaign and corporations can give ZIP (neither money, favors, items..anything).
It won't eliminate corruption - by a mile. But at least it will slow it down.
Several things here.
Of course, Warren't bill will not eliminate all corrupt behavior. Which bill could? That is to say, the argument that a bill is not worth enacting unless 100% successful is invalid.
Moreover, the same applies to your other argument: If you eliminate the simpler, more easily detectable classes of corruption, that leaves the more secretive forms requiring more criminal energy, that is, forcing "corruption farther underground". So, BTW, does your own proposal. That still doesn't mean the simpler forms shouldn't be penalized. Rather, you start with them, and amend legislation to go after the more egregious cases as they occur.
Finally, for your proposal to pass juridical muster, you first need to get rid of a Supreme Court that defines Money spent on campaigns as "speech", and corporations as "persons", involving First Amendment protections. Otherwise, that won't work.
That said, whoever thinks anything related to government ethics that might actually work will pass while McConnell has a say on which bill gets to the Senate floor, hasn't been paying attention.