Big Money is Bad for Small Business
Big money is bad for small business. Corporations spend millions of dollars lobbying Congress, who in turn pass policies which help profits but hurt people.
According to a study done by Represent.us, during the 2012 election cycle, big corporations spent approximately $188 million lobbying Congress to pass beneficial legislation. Small businesses spent $4.5 million. The congressional candidates raising more money are usually the ones winning elections. Big spenders rely on candidates to make them money, and candidates rely on big spenders to get them elected. This is not how democracy is supposed to work.
Major companies often spend more on lobbying than they do paying taxes. Represent.us outlines the tax advantages these businesses receive as a result of their political spending. Specifically, in 2012, 43 major companies benefited from a -8.9% tax rate, and those companies saved $3 billion as a result of their lobbying. These corporations are able to reshape the economy as a result of their political spending. Small businesses don’t stand a chance.
Main Street Alliance, along with partners at the American Sustainable Business Council and Small Business Majority designed a poll of 500 small business owners across America. The poll questioned small business owners and asked whether the Supreme Court’s decision in Citizens United was beneficial or detrimental to small businesses. The results revealed that the majority of small business owners, approximately 66%, believe the Citizens United decision is bad for small businesses. Only 9% of these owners believe it’s beneficial. The majority of Americans – Republican, Democrat, and Independent – all agree: There’s too much money in politics.
A 28th Amendment to stop unlimited big spending in politics needs to be passed to even the playing field, enhance a free and fair market, and make sure everyone’s voice is heard, not just those with money. Let’s get rid of pay-to-play politics.