help balance the budget and decrease the deficit by taxing the donations political campaigns get as income.

Every election cycle billions of dollars are given to political campaigns. When small businesses or individuals are "given" money, the government taxes the income. It only seems fair to me that as long as political campaigns are run like multi-million dollar businesses, that they contribute to the decrease in the deficit and pay taxes on their income. Ordinary income tax rates and the new "in excess of $400K" rules would seem appropriate.