Elections should be financed at a national level by an independent board. Candidates who qualify to run for office would then be allocated money, in equal amounts, by this independent board. All contributions would go to this board and not to any candidates or parties. Issues would then be debated in a reasonable manner and the ridiculous ads would stop.
Why is this important?
Money spent in Elections has gotten obscene. Term limits will not work. Finance reform has not worked. Candidates are now beholding to the money on both sides.