For every dollar corporations spent on lobbying in 2004, they received a $220 return on their investment in the form of tax breaks and government subsidies. That's according to a study from the Government Accountability Institute (GAI) that's united conservatives and progressives in outrage.
Put another way, corporations reportedly receive a 22,000 percent return on their lobbying investment.
Lobbying is now "a lot more profitable than buying or creating a new good," says the GAI's president Peter Schweizer. General Electric spends $100,000 every day to lobby Congress.
The report has horrified both progressives and conservatives. It's a "hot" story on liberal-outpost Reddit, been featured on Breitbart.com, and given TV coverage by the leftist Young Turks and a one-hour special, Boomtown, from Sean Hannity. Watch the last third of Hannity's show here:
If you want to take action, the Progressive Change Campaign Committee is running a campaign here.
As Hannity points out, the problem is bipartisan. Lobbyists and their clients "don't care who's in charge as long as the money keeps flowing in."
Via Breitbart.com and the Progressive Change Campaign.