These political candidates have convinced you that they're going to do what... Tax lobbyists out of existence?
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Elizabeth Warren plans to unleash 'excessive lobbying tax' if she becomes president
“Under my lobbying tax proposal, companies that spend between $500,000 and $1 million per year on lobbying, calculated on a quarterly basis, will pay a 35% tax on those expenditures,” Warren said. “For every dollar above $1 million spent on lobbying, the rate will increase to 60% — and for every dollar above $5 million, it will increase to 75%.”
She said that if her tax hit the lobbying organizations of the U.S. Chamber of Commerce, Koch Industries, Pfizer, Boeing, along with many others, then over the past 10 years it would have brought in over $10 billion in total revenue.
The Chamber of Commerce said in a statement that they considered Warren’s proposal unconstitutional.
“Senator Warren wants to tax people because she doesn’t like them exercising their constitutional right to petition the government,” said Neil Bradley, the groups chief policy officer. “I am sure lots of people would like to tax politicians who give too many speeches, but that isn’t constitutional either.”
The proceeds from this tax, Warren says, would go into what she defines as a new “Lobbying Defense Trust Fund.” The money in that fund will be used to insulate various congressional and federal agencies from lobbyists trying to influence their decision-making.
“Every time a company above the $500,000 threshold spends money lobbying against a rule from a federal agency, the taxes on that spending will go directly to the agency to help it fight back,” Warren said.
Getting Big Money Out of Politics | Elizabeth Warren
END THE CORRUPT SYSTEM OF MONEY FOR INFLUENCE
Even under current restrictive Supreme Court decisions, Congress can pass campaign finance laws to prevent the possibility of quid pro quo corruption, including restricting how much money can be given to candidates for office. My
anti-corruption plan seeks to shut down avenues for money to exert a corrupt influence on elected officials. When it comes to campaign dollars, we need additional restrictions:
- End the practice of federal candidates taking corporate PAC money. Right now, candidates for federal office can accept contributions from political action committees that are set up by corporations, even though they can’t take contributions from corporations directly. My plan will make it illegal for corporate PACs to contribute to federal candidates.
- Ban Foreign Corporate Influence in American Elections. Federal law prohibits foreign individuals from contributing to campaigns and thereby influencing American elections. But a loophole in federal law allows foreign-owned or foreign-funded companies to influence American elections. This concern is real. Reporters have described how foreign corporations are using this loophole to influence American elections. My plan would close this loophole and ban foreign controlled and influenced companies from spending in American elections by prohibiting U.S. subsidiaries of foreign companies, firms that have 1 percent ownership by a single foreign entity or 5 percent ownership by multiple foreign entities, and trade associations that receive money from those entities, from spending money in American elections.
- Ban the Consideration of Campaign Donations in the Selection of Ambassadors. For decades, administrations of both political parties have appointed big donors and bundlers to ambassadorial posts around the world. These donors are usually not experts in the country, region, foreign policy, or anything else relevant to the job - but they are donors. I have pledged not to participate in this practice. My plan will make it the law by prohibiting campaign donations and political spending from being a consideration in the selection of an ambassador.
- Close the Loopholes for Single Candidate Super PACs. Billionaires are currently allowed to donate $2,800 to a campaign, but they can contribute unlimited amounts to a Super PAC as long as they do not coordinate with the campaign. To sneak around the coordination ban, Super PACs are sometimes run by a candidate’s former staffers or others with a close relationship to the candidate. My plan would close this loophole and consider it coordination if a Super PAC is run by a person with political, personal, professional, or family relationship to candidate.
- Ban Lobbyists from Donating, Bundling, and Fundraising for Candidates. When individuals who are paid to influence politicians also funnel money into the campaigns of those same politicians, that sounds like legalized bribery. My anti-corruption plan seeks to end the corrupting influence of lobbyists throughout our government, including by banning lobbyists from donating, bundling, and fundraising for candidates.
- And because political spending doesn’t end on Election Day, we must also enact strict contribution limits and disclosure requirements for inaugural committees. President Trump’s inaugural committee raised nearly $107 million from giant corporations and wealthy donors – and the Chair of Trump’s inaugural committee is now under federal investigation for allegedly misspending funds and selling favors to wealthy donors, including members of foreign governments. I’ve supported a bill to require disclosure of inaugural spending. My plan will also ban corporations and lobbyists from donating to inaugural committees and place contribution limits on donations - so we never have to endure an ethics disaster like Donald Trump’s inauguration again.
EXPAND DISCLOSURE OF FUNDRAISING AND SPENDING
The system of money for influence is helped, at every stage, by secrecy. Presidential campaigns keep secret whole systems of recognition and special access events. Online political advertising isn’t disclosed the same way as TV and broadcasting, creating openings for foreign influence.
Dark money groups can spend and spend without ever making clear who their donors are. Under my plan, that will change.
- Require disclosure of major donors, bundlers, and finance events in presidential campaigns. Right now, candidates for president spend much of their time courting wealthy donors behind closed doors, and then secretly rewarding those donors with titles and recognitions for raising big sums of money from their wealthy friends. Voters who want to know what secret honors are given out - and to whom - or where fancy big dollar events were hosted don’t have any way to find out. Under my plan, presidential campaigns will have to disclose all donors and fundraisers who are given titles, including national or regional finance committees and bundling achievements. They’ll also be required to disclose who is on host committees and invitations for fundraisers and the dates and locations of those fundraisers. If a campaign wants to have events at the homes of big bank executives or reward bundlers with inner-circle status, they can do that - but voters should know.
- Update campaign finance laws to address online political advertising. In the lead up to the 2016 election, Russian nationals and Kremlin-connected businesses spent money on an expansive effort to use internet ads to influence American public opinion. Under current law, many of these ads were completely legal. My plan would modernize campaign finance law for the digital age by including internet ads in rules regulating electioneering communications, requiring large platforms to keep a “political file” with information about ad buys, just like TV and radio broadcasters do, and requiring large platforms to make reasonable efforts to prevent illegal ad buys by foreign nationals.
- Bring dark money into the light. Citizens United cleared the way for massive super PACs and dark money organizations that funnel hundreds of millions of dollars into our politics on behalf of largely unknown donors. Every organization that makes an election-related expenditure - including dark-money organizations - should be required to promptly disclose their large donors. And super PACs and other dark money groups must provide enough information about the sources of their money that the American people can trace it back to the ultimate individuals and entities that are funding them - not just the shell organizations used to conceal those sources.
breh... you need to do research on candidates and policies you are opposed to
you're looking extremely uninformed