Lobbying Pays

There are tons of lobbyists in DC because it pays to lobby. A paper out of the University of Kansas shows that lobbying for The American Jobs Creation Act of ‘04, which reduced taxes to 5.25% from 35% on repatriated profits, had a return on lobbying investment of 22,000%, yes 22,000! Eli Lilly spent $8.5 million lobbying in ’03 and ’04 but realized savings of over $2 billion. Feeling sick?