I Rest My Case On Why We’re In This Fix. Help!!!!!!!
This is a posting about a recent study on the effect of lobbying on our laws. It proves what I’ve been saying for years: many parts of our government resemble a banana republic and our lawmakers are money grubbers who spend more time looking for personal profits rather than making this a better country. I also offer – again – my solutions which includes a boot camp for Congress. It would make more sense than the dopey Fox-led tea bag parties.
LAS VEGAS, NV (April 13, 2009) – A study by three professors at the University of Kansas showed that a single tax break in 2004 led to a 22,000% return for corporations lobbying investment. Here’s how the Washington Post described it.
The paper by three Kansas professors examined the impact of a one-time tax break approved by Congress in 2004 that allowed multinational corporations to “repatriate” profits earned overseas, effectively reducing their tax rate on the money from 35 percent to 5.25 percent. More than 800 companies took advantage of the legislation, saving an estimated $100 billion in the process, according to the study.
Granted, this is one study examining one tax break. And of course, the right-wing extremists will describe this as another liberal attempt to stop free speech since it was done by college professors. And there is the dilemma of how do you regulate businesses who have a right to spend as they wish to make a profit or reward shareholders.
Some of those arguments have relevance. But they don’t override this one fact. Large amounts of money from major corporations and individuals to influence lawmakers – either through lobbying or bundled campaign donations – have had a serious and negative impact on our economy.
And this is not just an issue you can aim at Republicans only. Look at the influence that was placed on Democratic leaders – Chris Dodd and Barney Frank – from lobbyists for Fannie Mac and Freddie Mac.
When I repeatedly tell you that Republicans and Democrats are working together against America, this is what I mean.
Ask yourself why legislation that is needed fails to pass. It’s because lawmakers cave to the money interests. And those money interests won’t go away because, as we now see plainly, that money leads to great returns.
What’s worse is that Congress in 2006 failed to stop these lobbying efforts and their ties to campaign financing. This comes from the New York Times in 2006.
The bill also does little to break the link between lobbyists and lawmakers’ money-raising machines, because senators decided those issues related to campaign finance, not lobbying. As a result, it steers clear entirely of regulating lobbyists who double as fund-raisers, devoting their spare time to running the political action committees of the same lawmakers they hope to influence.
More than a year ago, I predicted this current economy pointing to the lack of restrictions on lobbying and campaign financing. Here’s the post.
In that post, I offer my solutions to the problem. I’ll give you the chopped down version here.
First, stop all campaign money to all campaigns.
Second, no elected official can meet with a constituent in private. Issues will be discussed in open forums like committee meetings.
Third, since Congress falls over itself praising the military, they should act like them. So, Congress should be moved to an enclosed and gated military base. They will sleep in barracks and have a regimented schedule where certain duties must be done – or they don’t leave. Part of their regiment will be reading. This way they won’t miss things like the AIG bonuses.
Four, campaign season will last only three months. No candidate can hit the campaign trail or debate another candidate until August of an election year.
Give me your solutions to get Congress and the White House to make our elections and our leaders fair and clean.