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29 September, 2021

Billionaire welfare. Corporate tycoons oppose Build Back Better that helps regular Americans.

icon billionaire welfare,build back better
Corporate tycoons pay lobbyists to block legislation that helps regular Americans.

Multi-millionaire CEOs fund lobbyists to deny basic benefits for the rest of us. Politicians beholden to corporate donors. Follow the money to see how billionaires get their welfare.

“Billionaires and big industry fund bogus studies attacking Biden’s economic plan because they know these investments will grow the economy for everyone, but they just don’t want to contribute a penny to it. Corporate interests will say or do anything to preserve the broken status quo, including lie to families that overdue investments in childcare, education, and climate change are somehow not in their interest. They manufacture excuses to do nothing and avoid paying their fair share. It’s past time the economy starts working for all Americans, not just rich and powerful corporations,” said Kyle Herrig, president of Accountable.

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Lobbying Democrats to oppose Build Back Better bill

"Campaign finance documents show that nine of the Democrats threatening the bill were rewarded during the month of August with over $150,000 in donations from PACs, including many affiliated with business groups that are lobbying against it, according to watchdog group Accountable.US." - Sludge

Build Back Better

"The reconciliation bill, also known as the "Build Back Better" plan, has two main components. There is a wide-ranging collection of new policies, including:

Paid family leave
An expanded child tax credit
Universal pre-K
Free community college
Expanding Medicare to cover vision and dental
A serious effort to address climate change, including a Clean Energy Standard

There is also a set of proposals to pay for these new policies, including:
Closing tax loopholes for private equity managers and wealthy heirs
Increasing the corporate tax rate from 21% to 26.5%
Raising the top individual tax rate from 37% to 39.6%
Imposing a 3% surtax on income over $5 million
Increasing tax enforcement to enable the IRS to collect more money that is owed
Allowing Medicare to negotiate drug prices, lowering costs" - Popular Information

Corporate lobbyists get politicians to do whatever they want.

Kyrsten Sinema


"Kyrsten Sinema, who recently told the White House that she opposes the reconciliation plan’s drug pricing reforms, received over $30,000 in PAC donations during August. Donations to Sinema’s leadership PAC included $2,500 from the PACs of Raytheon and $1,000 from electric company AES Corporation, both of which have CEOs on the Business Roundtable.

The New York Life Insurance Co.’s PAC chipped in $2,500 on Aug. 11, just a day after the BRT tweeted praise for Sinema’s efforts on the smaller infrastructure bill. Corporate influence-peddling groups have used support for moving the infrastructure package separately as cover for its efforts to kill the reconciliation bill, since keeping the measures tied together is considered essential for the reconciliation package to pass." [Sludge](https://readsludge.com/2021/09/28/corporate-pacs-reward-democrats-opposing-reconciliation-package/)

Corporate lobbying
June 14, 2012

Resources

Popular Information
Accountable
Sludge
Yahoo Finance

TakeAway: Follow the money with a power map to make it easy for people to see how billionaires and their lobbyists rig the system for themselves with the help of compliant politicians. It's time to end billionaire welfare.

Deepak
DemLabs

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