I think "we the people", as a society can and do decide what should and shouldnt be allowed as long as we can make a case, and the result can be a myriad of things.

Sure, and as part of the people, I think we should allow lies in political ads except in particular concrete cases (e.g. lying about polling dates).

> I think we should allow lies in political ads except in particular concrete cases

So you don't think we should allow certain lies? We'd still be creating a list of lies that people can't tell, just a smaller one.

You're still advocating for banning lies in political advertising, but only if you agree with what is banned.

In this case, it's specifically what I'd call 'metagaming lies' - lies that explicitly break the rules or the frame of the political system. Misleading people as to the actual rules of the system are out of bounds, as it causes the system itself to collapse.