The Profitability of Lobbying
by Veronique de Rugy
In a surprising development, the Washington Post discovers that Congressmen make promises of funding in exchange for votes:
“It takes a while for most start-up companies to gain the confidence of a U.S. congressman and the promise of federal funds. But last year, a small Illinois company accomplished its goal in 16 days with the help of Rep. Peter J. Visclosky, a little-known Indiana Democrat who sits on the House committee that funds the Pentagon. [...]
The congressman sponsored or supported at least $44 million in earmarks in fiscal years 2008 and 2009 for more than 15 technology firms that had hired K&L Gates as lobbyists. None of the companies operated in Visclosky’s home state, but nearly all of them donated to Visclosky’s campaign just before or soon after receiving the promise of federal money.”
This is more evidence of the twisted positive sum gain between lobbyists and lawmakers. Sure lawmakers benefit, but that’s because they have something very valuable to offer. Lobbying is a very profitable activity. According this study published in April this year, the $3 billion-a-year industry in Washington secures spectacular returns on investment such as “a single tax break in 2004 earned companies $220 for every dollar they spent on the issue — a 22,000 percent rate of return on their investment.”
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22 Comments
[...] This post was mentioned on Twitter by SavageNews and DRIP USA, AZ grassroots. AZ grassroots said: The Profitability of Lobbying http://bit.ly/NDFek #dripusa #ocra #tcot [...]
Speaking of CON-gressional funding, I wonder, will CON-gress cut loose the re-funding of ACORN on Halloween Night ? It is time for an update……………….
Sounds like Shakespeare should've added Lobbyists to his Lawyers comment, huh?
My guess is most lobbyist are lawyers.
Breitbart continues to report news the MSM won't dare touch. Today is the deadliest day in Afghanistan in over four years. Nero is fiddling while Rome is burning. Did not Barry Soetero promise to bring the troops home? In the immortal words of Congressman Joe Wilson: "YOU LIE!"
http://www.breitbart.com/article.php?id=D9BIS5081...
Soetero was a liar then he is a liar now, and he'll be a liar tomorrow. At least he is CON-sistent.
Congress legislates for special interest.The vast majority of congressman and senators are corrupt because of how they legislate.They legislate for whoever stuffs the most money into their campaign coffers. Because they bring the pork home they get re-elected.Because elections are rigged that way this country has been declining for years.This administration and congress have greatly accelerated that process.
The only way we have of having even a small chance of getting back on track is to vote out all incumbents.Get rid of the career politicians and you put a major crimp in the influence of all special interest.Then we need eight year and your out term limits for a start.
Career politicians=Malignant terminal cancer.
Your statement is correct, the only chance WE have, is to vote them ALL out. Now that is true Health Care Reform. Eliminate the cancer………..
Look up John Ford State Senator from Memphis – he's stll in jail – videos of him taking globs of money…. Most all Fords were thieves in memphis – Harold Sr – Post office scandal .. multiple Fords @ local level too….
Lobbying is the true cancer of a Capitalistic society. And as Saltydog53 points out, term limits are the antidote we need! Along with caps on retirements and bennies given to one term lawmakers. They should not be granted any more or less than a private sector worker, that has had to work their entire lives to get the bennies they have, or may have, by the time they retire.
Yet nothing happens to any of those theives, even after being called out and identified for doing what they do. As long as they go unpunished for their actions they will continue.
….and that big bright ball up in the sky is called the sun. Of course congressmen take money and give earmarks. This is standard practice in this the oldest of all professions. The smart money on the street knows the best game in town is donating to congressmen. Where esle can you expect a 2,200% return on your investment?
In defense of their taking bribes, we need to look at it from their side. It coss alot of money to get elected and once you get there you are required to work maybe two or three days a week. That plus if you don't get re-elected your career is over so if you dan't rake in the dough when you have the office, you may not be able to later when your voters find out that you were really only interested in yourself and are in fact a real scumbag. So don't go and get all uppity with me because I take bribes, I have to, its my job!!! Not only that but you are a racist for saying so. Now leave me alone I have an important lunch meeting with another lobbyist.
I agree completely. We need to make sure that the incumbents don't make it past the primaries. It doesn't matter whether Reps or Dems win in the general election; just that incumbents depart. It will take two or three election cycles for THEM to really figure out that WE have taken control of our destiny, but then WE can start making the real changes that need to occur, such as eliminating paid lobbyists and changing campaign finance to allow contributions only from individual registered voter citizens who have a stake in the outcome of the election (i.e. their district/state for Reps and Sens).
I agree as well with what you say.If career politicians start going down a lot of changes will need to be made.One good thing about the last election is that a lot of eyes were finally opened and people are angry.I just hope that enough people will stay focused this time.
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In a surprising development, the Washington Post discovers th.. http://bit.ly/NDFek
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so what is so wrong with our political leaders taking a little money,whats wrong with candidates making promises,then not keep them,whats wrong with a president having a little haha in the oval office then lie about it. whats wrong with hollywood selling drugs,sex and violence to are youth. whats wrong with corporate america moving all our small manufacturing to china to make 400% profits on their retail floors…………you wealthy never had it so good and you welfare rats and illegals your doing even better……but you dumb-ass middle class TAX PAYING HARD WORKING AMERICANS , well you just shut the hell up and work harder all those above are counting on you…..tea parties work!
I like your reverse psychology. We all need to get involved and weed out the bums…
The Conservative Edge
"Love for sale…"
Wow, Congress deals in favors and favoritism. Who woulda thunk it?
Gee, now why didn't the Founding Fathers anticipate lobbying like this and put solid protection in the Constitution against it?
Oh yeah, the federal government was never supposed to be this damn huge and control this much of our hard-earned money!
We're bringing up Barney Frank and his scandals again?
Different kind of "exchanging of favors" there. Although it'd be tough arguing which is more disgraceful or disreputable…
Kind of funny to see this article right next to another Christopher Horner anti global warming article. Isn't he just a paid shill for the oil industry? A lobbyist more or less?
http://www.sourcewatch.org/index.php?title=Chris_...
"…we need to look at it from their side. It costs alot of money to get elected and once you get there you are required to work maybe two or three days a week. That plus if you don't get re-elected your career is over so if you don't rake in the dough when you have the office, you may not be able to later when your voters find out that you were really only interested in yourself and diets after pregnancy are in fact a real scumbag. So don't go and get all uppity with me because I take bribes, I have to, its my job!!! Not only that but you are a racist for saying so. Now leave me alone I have an important lunch meeting with another lobbyist." LOL, very funny indeed.
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