Generally, I'd be against banning lobbying. I think it would be a tough law to write, as you could not ban "individual" lobbying (i.e. by taxpayers), nor do I think you could ban a business organization's paying an individual taxpayer to lobby on its behalf. From the Congresscritter's perspective, that the corporate lobbyist is now a private citizen (rather than a lobbying firm or an officer of the business) makes no difference.
A "corporation" does not act on its own, it acts through human beings, and those human being might well actually believe in the corporation's proposed changes to the laws. How can you pass a law prohibiting him from telling an elected official that?
What we need to do is repeal all campaign finance laws. Let politicians get their money from anyone they want. Simply require that they report all donations immediately on the internet. Let the voters decide if they don't want to vote for someone based on how much money he took from someone.
Here's why I don't think that would work...almost *every* politician would be on the dole. Your choices would not usually be between the honest guy who's uncorrupted and the guy who's in the back pockets of monied interests, it would be between two (or more) guys both of whom are in
someone's back pocket. Your choice would be "whose corruption offends me least." Often it would likely come down to picking the guy who's corporate owners you object to less. ("Well, the first candidate is beholden to the PETA, the Ethanol lobby, and the RIAA, but the second candidate is a lackey for big oil, the auto manufacturers and NAMBLA, and that's why I am voting for the first guy.")
I wouldn't even blame them. The lure of money is a powerful thing, and every Congressman would be able to raise many millions very easily by serving business interests, and have to work his ass off schmoozing "the povs", err...I mean his valued constituents to raise the same amounts. So long as he can fall back on "everyone is doing it" the increased chances that he'll be voted out for that aren't that great, except in years when the electorate turns against incumbents generally.
"Everyone is doing it" is the reason even people who want campaign finance reform have often found themselves accepting money from sources they otherwise wanted banned. Rejecting funds from legal sources you *wish* were illegal often makes no strategic sense. (It's akin to unilateral disarmament. You can do it, but you can't then be surprised when your still armed opponent takes advantage of your self-imposed weakness.)
I think you might as well give big business the franchise as repeal campaign finance laws, with the number of votes cast being proportional to their net income.