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30 Major U.S. Companies Spent More on Lobbying than Taxes

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posted on Dec, 14 2011 @ 04:39 PM
Yes, its true but we already knew that. That is what hope and change has brought us since the 2008 election. Remember Obama saying that he would not employ lobbyists in is office and has hired many since. Including a former big wig who lobbied for a group that represented Goldman Sachs, US Bancorp, JP Morgan Chase, UBS, Morgan Stanley, and Bank of America etc etc. and worked in the Clinton admin.

Thirty large American corporations spent more money on lobbying than they paid in federal taxes from 2008 to 2010, according to a report from the nonpartisan reform group Public Campaign.

All of the companies were profitable at the time. In spite of this, and the massive federal budget deficit, 29 out of the 30 companies featured in the study managed through various legal tax-dodging measures to pay no federal income taxes at all from 2008 through 2010.

How about $11 Billion in tax rebates...

n fact, the report explains, the 29 companies that paid no tax actually received tax rebates over those three years, "ranging from $4 million for Corning (GLW) to nearly $5 billion for General Electric (GE)." The total value of the rebates received was nearly $11 billion; combined profits during the same period were $164 billion.

and $476 million spent on lobbying by these 30 companies alone... GE spent $84 million of that!!

The amounts spent on lobbying ranged from $710,000 by Intergrys Energy Group to $84 million by General Electric. Others that spent heavily on lobbyists were PG&E (PCG), Verizon (VZ), Boeing (BA) and FedEx. It all added up to a total of almost half a billion dollars -- $476 million -- over three years. Or, as the report notes, "in other words, roughly $400,000 each day, including weekends."

The same companies dished out about $22 million to Federal campaigns.

Wow!! Houston we have a problem. Now, who in congress has the stones to put an end to this BS. What more do we need to see.... Ooof!!

edit on 14-12-2011 by jibeho because: (no reason given)

posted on Dec, 14 2011 @ 05:57 PM
reply to post by jibeho

I think this is the solution below or build a million dollar bunker and ride it out

Larry Lessig has some great ideas, like voucher systems in place in three Congressional State's elections, getting the money out of government is a start but I disagree with him on a couple key point. Not Letting The Supreme Court Rule From The Bench, and end corporation/person-hood status. A corporation, llc, inc, or any other business is not a person, can not vote, hold office, breath, die, give money to politicians, etc. etc. etc.

The studies on the concept of his in Florida for judges did exactly what he predicts will happen, but, TPTB couldn't have anything other than the status quo.

Good book and a great starting point for ideas to end this crazy thing we call government. I believe the younger generation will change even more, this is coming for a 34 year old perspective. Making the availability to vote as easy as making a phone call (vote for American Idol)will change to a majority of voters electing a President not a minority of the people, another change needed but over looked. Voting on weekends and weekdays, overlooked and easily put in place. Hell I am even open to a software platform to replace government decisions and get the human greed element out of it completely.

posted on Dec, 16 2011 @ 04:05 PM
I wish I could give you more stars, I wonder why this is laying dormant when people should be forced to read this so some of the madness we see on a daily basis is understood.

Everyone that reads this please star and flag to get it the notice it deserves!!!!

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