Millions of average Americans are preparing to file their tax returns, most without the help of powerful lobbyists working to make sure the tax code is tailored to minimize their obligations to Uncle Sam. But that’s exactly what many top U.S. corporations spend millions to accomplish, and it’s all legal. Critics say Bank of America, Boeing, Verizon and others are also benefiting from the current system: earning billions and either paying nothing or actually getting refunds. It’s all a result of laws heavily influenced by Washington’s top lobbyists.
“They can gather up incredible amounts of resources in order to lobby the White House, lobby Congress — really cover the waterfront in terms of their political liabilities,” Levinthal said. It’s no secret that GE enjoys a close relationship with the Obama administration. Earlier this year, President Obama tapped GE CEO Jeffrey Immelt to head up his Council on Jobs and Competitiveness. Levinthal says GE is one of the best when it comes to putting together a “full frontal assault on politics in Washington.” He notes that GE “has a lot of money to bring to the table” and has very powerful people working on the corporation’s behalf in Washington.
Meeeee2's Blog 