Spending Money to Make Money
With the second anniversary approaching of the Supreme Court’s decision in the Citizens United case – which opened the floodgates to corporate spending on elections – it’s worth a look at whether playing in politics actually pays off for corporate interests. As it so happens, it does.
Between 2008 and 2010 at least thirty US corporations spent more to lobby congress than they paid in federal taxes over the same time period. Clearly, when it comes to politics, corporations really do spend money to make money. In addition to the “Dirty Thirty”, 280 consistently profitable Fortune 500 companies paid about half the statutory corporate tax rate while spending $2 billion to lobby Congress on tax policy and other issues.