What is the best approach to Campaign finance reform and what do you think of this plan?

I read this article and thought hmmm? http://www.blueoregon.com/2007/09/a-simple-workab.html I know very little about this subject and would like to know what your thoughts on what really is the best way to proceed? And if you know, what are john edwards, and hillary clintons stand on this?

Public Comments

1. Private contributions should be banned. All campaigns should be publically funded. All candidates that qualify for the ballot should get an equal amount. Party affiliation should not matter.
2. I don't believe there is one single answer to this dilemma... however, I'm not influenced by political ads in the slightest. In my mind it's money wasted.... in fact the more I see and\or hear that crud on the TV\Radio the more I dislike a candidate
3. The major party candidates would certainly not participate. Minor party candidates would most likely support it since it reduces the funding discrepancy they have with the Democrats and Republicans. Personally, I don't believe either of them would participate and since the program is voluntary, they'd have no reason to. I'd then be opposed to providing tax dollars to the minor candidates to equal that raised by the Democrats and Republicans.
4. No campaign funding at all! No campaign advertisements at all! Nothing, but debates. A debate before the primaries. Then debates before the election. Leaflets stating the positions of candidates should be distributed like phone books. One to every citizen. No spin, no selling a candidate. Just themselves, their ideas, and the public. That's my perfect little world.
5. I would like to just see public debates with only allotted time given to each on public television channels. Advertising and private funds would be banned period.