In U.S., Majority Still Wants Less Corporate Influence

[Kevin and 10]

Majority Still Wants Less Corporate Influence

In U.S., Majority Still Wants Less Corporate Influence

Low income, non-college-educated Americans most likely to favor expanded role

by Lydia Saad

PRINCETON, NJ -- The large majority of Americans (62%) want major corporations to have less influence in the United States. While this is down from a peak of 68% in 2008, it remains well above the 52% recorded in 2001. Relatively few Americans would prefer to see corporations gain influence, but the 12% recorded this year is the highest to date.

The new data come from a Jan. 7-9 Gallup poll. The same survey found 67% of Americans dissatisfied with the size and influence of major corporations in the country today, the highest level since Gallup first asked this question in 2001. Of seven aspects of the United States rated in the poll, Americans are the least satisfied with corporate influence.

Republicans are often seen as champions of corporate power -- favoring lower corporate tax rates, battling efforts to strengthen labor unions, and advocating less government regulation of business. That is borne out to some degree in the finding that Republicans are more than twice as likely as Democrats, 36% vs. 16%, to say major corporations should maintain the same level of influence in the country, while, by 73% to 49%, Democrats are much more likely to favor less corporate influence. However, relatively few Republicans, 13% -- little different from the 10% of Democrats -- believe major corporations should have more influence in the country.

The groups of Americans most likely to favor expanded corporate influence are, perhaps, those least likely to be associated with corporate America: young adults, adults living in low-income households, and those with no college education. This could reflect the lower levels of attention these groups have paid in recent years to controversies involving corporate America, including the Wall Street financial bailout and, prior to that, Enron and other business scandals.

Implications

President Barack Obama reportedly signed an executive order Monday formally establishing a new presidential advisory panel on jobs and competitiveness, with General Electric CEO Jeffrey Immelt as the chairman. This, along with several other business-friendly decisions by Obama since the midterm elections, arguably signals that corporate America will have an enhanced role in shaping the administration's economic policy going forward.

Americans may appreciate Obama's focus on jobs, and GE has not been among the companies embroiled in scandal or controversy over government bailouts in recent years. However, Obama's overtures to the corporate world could carry political risks, as Americans' overall confidence in big business remains historically low and their desire for less corporate influence -- at least in broad terms -- remains high.

[The_Dude 1,142]

Corporations are citizens too, at least according to the SCOTUS.

[Kevin and 10]

Corporations are citizens too, at least according to the SCOTUS.

A terrible ruling too.

Corporations used to be on a limited charter. Charters could be revoked for violations and corporations couldn't use donations to influence political process. Maybe we should go back to the way they were before.