If corporations are threatened to be taxed or regulated by the government in ways that may reduce their profits, they use their riches to invest on K Street (otherwise known as “Lobbyist Boulevard”) in Washington. Currently, there are over 34,000 lobbyists in the United States. According to the Institute on Taxation and Economic Policy, the Citizens for Tax Justice, and Public Campaign, “41 companies (including GE, Microsoft, and Disney) ‘contributed’ $150 million to political parties and campaigns for U.S. Federal candidates between 1999 and 2001, and enjoyed $55 billion in tax breaks in three tax years alone.” The pharmaceutical industry employs the highest number of 3,000 lobbyists and has spent $759 million to influence 1,400 congressional bills between 1998 and 2004.
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