Cat MacLennan, pointing out that public funding is common overseas. 58% of countries, including Canada, Sweden, Germany, and the Netherlands, provide direct funding to political parties. These are countries which we think of as democratic leading lights, and which don't have a problem with corruption. So that seems worth emulating. Clint Smith also address the issue in Stuff, and makes the simple point:
If we don't want anonymous wealthy people trying to buy our democracy, maybe we should pay for it ourselves.
And that's really what it comes down to, isn't it? Should politicians work for voters, or donors? I think almost all of us prefer the former, and that means gritting our teeth, putting aside our justified dislike of politicians, and giving them public money to work on the public's behalf. Because our democracy is worth it.
But there's also the corollary: if politicians defend the current system, or drag their feet on making these changes, then its clear that they think they should be working for donors, not us. And we should vote them out.