The Circle Of Political Life
Written by Brian Garst, Posted in Waste & Government Reform
Consider this a perverse form of the circle of life. It goes like this: politicians tax citizens – > politicians use taxes to bailout businesses -> businesses donate money to politicians.
Several companies that escaped financial failure two years ago through massive taxpayer-funded bailouts are spending millions of dollars to make donations to political causes and even some candidates’ campaigns.
General Motors, Chrysler and Citigroup are just three of the biggest bailout recipients who have continued to remain politically active, through their political action committees, federal lobbying or direct donations to the pet projects of lawmakers.
The potential public relations disaster for firms spending big dollars on political causes and federal lobbying after being extended a taxpayer lifeline has led some, such as AIG, Fannie Mae and Freddie Mac, to suspend their political activities until they pay the government back in full.
I serve as Vice President of the Center for Freedom and Prosperity, a non-profit think tank dedicated to preserving tax competition and free markets. This site features my personal views, which are not reflective of CF&P.