I think one argument is that it's the wrong approach to solve the problems with government. Of course, that idea depends on an opinion of what the problems are with government. A "limited government" approach I've seen is that money in politics isn't so bad if the government's ability to use physical force to pick winners and losers in the economy is very limited. Why would the tech industry spend millions lobbying if the government had no comprehensive ability to regulate the Internet? Why would mining and oil companies lobby so much if the government had fewer environmental regulations and/or fewer subsidies in the energy and natural resources sectors? Why would defense contractors lobby so much if the government wasn't spending trillions on war around the globe? And so on.
OK, maybe you're right about limiting government (I think you're wrong, but I've been wrong before). So how do you think there's a snowball's chance in Hades to limit government when there's so much money behind the current setup? How are you going to cut the defense budget?
Incrementally, via Lessig's plan. The thing about campaign finance is that it can actually be reformed piecemeal and by external efforts simply be putting enough money in the right place and the right time. Well, not that simply, but close enough.
The current people in Congress were elected under the current system and thus must be at least slightly wary of a different system. Despite this, there is some support in Congress for these sorts of reform. Perhaps those who support it do so because they think it is the right thing to do, perhaps merely because they think they can do well under the new system.
But you don't have to change the campaign finance rules to start with. By concentrating money in a few places on a single issue, i.e. using the current system, you can elect or help elect members favorable to the new system. If that works, you kick it up a notch and try to get more elected. At some point it's either going to peter out or it's going to have some sort of permanent success.
This is not to imply that it's a walk in the park, but there is a road to success here. Trying to effect significant change on other issues which run counter to big money seems to me to be less realistic, but that's just my opinion.
That's true, but how do you get there from here? How will you reduce the size of the government when so much money can be spent so effectively to keep it big?
The question is: What is the most effective thing we can actually do to allow us to get to the point where we can choose the kind of government we want? I don't mean to say that I want the same kind of government that you do, or that either one of us will necessarily be in the majority if things ever reach that happy state, but how do we get there in the first place?