If you’re a millionaire corporate bigwig using your wealth to influence elections, and using your company’s clout to influence legislation, President Obama might give you a tongue-lashing. Unless you’re a fundraiser and donor for the Obama Victory Fund, and your company’s lobbying agenda coincides with the White House’s — then Obama will give you a shout-out in a major economic address.
In his nationally televised speech Wednesday, Obama sang the praises of retail giant Costco, whose founder Jim Sinegal gave Obama the maximum contribution in two elections and hosted fundraisers for his reelection. Costco has also lobbied for many of Obama’s legislative priorities, including higher minimum wage, Obamacare, and price controls on financial processing fees.
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