General Electric spent more lobbying the government than it did in federal income taxes between 2008 and 2010.
Today,thousands of 99 Percenters will marchon K Street in Washington, D.C. as a part of an action called “Take Back The Capitol,” taking aim at the lobbying firms that corporate interests use to influence the federal government.
A report released this month by Public Campaign demonstrates just how important it is for Americans to battle corporate special interests and reclaim our democracy. The group’s research finds that thirty big corporations actually spent more money lobbying the federal government between 2008 and 2010 than they spent in taxes. For example, General Electric — one of thetop 10 most profitable companiesin the world — got a net tax rebate of $4.7 billion during this period. Meanwhile, it spent $84 million lobbying the federal government.
Here’s the full list of the 30 corporations identified and what they paid in federal taxes as opposed to lobbying:
To follow today’s actions, check out Take Back The Capitol’swebsite, and find instant updates about the protest through the hashtag#99indc. ThinkProgress will be covering today’s events at our99 Percent Movementspecial topics pag