The issue is who gets to be the arbiter of what counts as "political propaganda and deliberate lies"?
The founding fathers thought that if government was given such power it would be abused to stifle speech that fell outside of those categories so the only way to protect speech was to protect it all.
I tend to think that if this is true for government, it's probably true for large corporations as well.
I think the issue is whether it still qualifies as free speech when it's paid advertisement. Inevitably the companies with the largest coffers and most to gain get a megaphone and you end up with tiers of free speech (pay to be heard).
The founding fathers thought that if government was given such power it would be abused to stifle speech that fell outside of those categories so the only way to protect speech was to protect it all.
I tend to think that if this is true for government, it's probably true for large corporations as well.