Arguments for and against banning television commercials aimed at children under age 12, as well as the role of the Federal Trade Commission (FTC), the First Amendment, and parents in regulating such commercials, are explored in this paper. Following an introduction that describes the controversy, a second section of the paper details the arguments for restricting advertising, including the notion that children are too trusting of advertising messages and do not perceive a persuasive bias in ads. Subsections discuss whether the ads are unfair and deceptive, the FTC's role, and advertisers' response to self-regulation. A third section details arguments against ad restriction and cites childrens' First Amendment rights of exposure to ideas and the problems posed by restricting and defining commercial speech. The fourth section looks at the parents' role in regulating what their children watch and notes that a number of parents regularly discuss commercials with their children and help them understand that ads are for the purpose of persuading viewers to buy. The paper concludes that ads directed toward children not be restricted and argues for parental involvement in helping children evaluate and form opinions of ads. Extensive footnotes are included. (JC)