US firms paid more in lobbying, and compensation of their CEO's, than taxes

United States
August 31, 2011 12:19pm CST
According to a new study, US corporations spend more money on lobbying congress, and paying their CEO's than they did in Federal Income Tax. Some on here may be happy to hear this, but the problem is that All of these corporations made huge profits (many record profits), but because of their lobbying congress they are paying little, or receiving huge refunds while making billions in profits. The problem is that small businesses don't have the ability to lobby congress to get tax breaks to help, and they are work horse of our economy. The current corporate tax laws are made by corporate lobbyist, to benefit certain corporations. Do you feel that we should continue to have a system set up so that larger corporations that can buy elected officials should continue to pay less in taxes than small mom and pop businesses? http://www.cnbc.com/id/44337105
6 responses
@matersfish (6313)
• United States
1 Sep 11
This is the system we created and it's despicable. It crosses ALL party lines. You basically need to lobby or end up like Microsoft and become America's villain for daring to give people free software. (And now look at how much they spend to lobby! Oofah!) It's criminal, and the fact we bicker about which "side" is more culpable is even more disgraceful. One might forgive the lobbying if it's on behalf of a company they like (like something "green") while another excuses it as being necessary for another bogus reason. Our politicians can be bought and sold. In fact, that's all our politicians do. They're bought and sold. Politics is the biggest business in America. And you can spot it by seeing that most of our politicians went to school to become politicians! LMAO You can't make this crap up. America is a corrupted cesspool. I love my country. But it's as crooked as the day is long, and the very person saying they're going to Washington to change it is the person I keep the hardest eye on. Small businesses cannot lobby at all. The deck is completely stacked against them. And not only with high-powered, big-money lobbyists working for the benefit of large corporations, mind you. But we're also talking about special interest that has created record regulations, choking the life out of innovation on a massive level. And in this context, I definitely include unions in there (bosses, not members) as part of the lobbying/paying-for-favors problem. America is only a business-friendly environment if you have friends in high places or incredibly deep pockets. The mom 'n' pops of the world are all but extinct. As a self-employed small businessperson, it disgusts me.
3 people like this
• Redlands, California
1 Sep 11
It is disgusting and if everyone was to boycott these big corporations then you would be putting millions out of work. It is a loose loose situation.
1 person likes this
• United States
1 Sep 11
Corporations just do what anyone in business would do - push for better business. So the lobbyists would always be around. The biggest problem isn't with corporations lobbying but with politicians so easily corruptible and refusing to say no. Businesses are in business to make money. They obviously want the path of least resistance. Maybe a "no" every once in a while from a politician would change it.
1 person likes this
• United States
3 Sep 11
I couldn't agree with you more Mater, the problem is changing it when the politicians are addicted to the power and money.
@lelin1123 (15636)
• Puerto Rico
1 Sep 11
It is dispicable what is allowed by big corporations. This in my opinion is why the United States is in such debt. The corruption that is going on all around us is disgusting. I don't believe this practice should continue. When CEO's can walk away making millions and the small mom and pop stores are struggling something is definitely wrong with this picture. When CEO's can walk away making millions while laying off their own employees something is wrong with this country!
3 people like this
• United States
3 Sep 11
It is very sad when you see a CEO mismanages a company, and then lay off people so the stock price doesn't get hit. The only thing that matters now is the stock price, and that is a major problem with this country.
@crossbones27 (26006)
• Redlands, California
31 Aug 11
Oh Ya Peterson, In the United States that is called good business. You can get away with pretty much anything as long as you dot Your I's and cross your T's and have a lot of money.
2 people like this
• United States
3 Sep 11
As sad as it is you are correct, but that doesn't make it right
• Redlands, California
4 Sep 11
Just to clear things up I am not condoning but just telling the reality of the situation. I clearly think this county suffers greatly from this type of behavior.
• Redlands, California
4 Sep 11
My answer to Peterson was called "sarcasm"
@petersum (4525)
• United States
31 Aug 11
In other countries, it isn't called "the system", it's called corruption!
2 people like this
• United States
3 Sep 11
Isn't it ironic that we look down on other countries when they do the same thing our government does?
@gewcew23 (8011)
• United States
6 Sep 11
US corporations are not job creators, they are just profit makers. Corporation will do this by making cheap products and selling those products as expensive as they can, or as you are describing just take money from the taxpayers.
1 person likes this
• United States
7 Sep 11
very true Gew
@Taskr36 (13923)
• United States
1 Sep 11
How is this any different than the money spent by unions on lobbying? Lobbying is just good business. Everyone wants a political climate that is advantageous to them and if big business does well, so do their employees and shareholders. Small businesses are capable of lobbying as well, that's why many get together to lobby as a group.
• United States
3 Sep 11
Taskr, please show me a union official that makes $16 Million a year. "Lobbying is just good business" So you are saying that our corrupt tax code is good? You approve of small businesses paying 35% in taxes, while major corporations get huge refunds, or pay NOTHING in taxes on BILLIONS of profits? "if big business does well, so do their employees and shareholders. " Not true, corporations have TRILLIONS in profits and are not increasing wages for employees, nor are they buying back stock, or increasing dividends because both of those are bad investments. Small businesses don't have the money to pay for fights for representatives to lavish resorts, or hunting trips for the vice president and a member of the supreme court.
@Taskr36 (13923)
• United States
3 Sep 11
There are plenty of union bosses making 6 figures, but no, I don't know of any making $16 million. The reason is that they're services aren't worth $16 million. A CEO running a successful business is EARNING that money. No, I don't approve of small businesses paying that much in taxes. You can blame your own party for those taxes. I think that when employee income, and business profits are both being taxed the government is double dipping. I don't think we should be punishing success in small, or large businesses. I said that when a business does well so do their employees and shareholders. That is a FACT (the bane of your existence I know). Do you think employees and shareholders do better when their business is tanking? Do you think Borders employees are getting paid more and enjoying better job security right now?
• United States
3 Sep 11
Taskr, do you think that of former Treasury secretary John Snow did a great job of running CSX? Before he left CSX he made $10.1 Million while his stock price was far below his competitors, and also received a $24 Million dollar loan to buy stock (which was later the reason he resigned due to the fact he didn't pay taxes on that loan). I can give you hundreds of examples CEO's not worth a tenth of their pay. I don't just blame one party, I blame both of them, but more than anything I blame the system we have for electing officials. If they didn't need hundreds of millions to win elections than they wouldn't need to sell their souls (although, some still would). You are correct that businesses that are doing BAD aren't doing good. But, the difference between a company doing good, and great means nothing today. Neither are hiring, spending money on improving their businesses, or taking care of the employees any better. They are just sitting on all of that money that they made on us during one of the worse economic times in our countries history, and getting a FREE PASS!!!!