The Bavarians spent over $100M last summer to reinforce their squad with some world class talents like Frank Ribery, Luca Toni and Miroslav Klose.
However, it was Bayern's latest transfer, a 14M Euros swap for Sao Paulo's 18-year-old Brazilian defender Breno, that triggered Lammert's comments.
"I am annoyed about the constant and substantial excesses which have blighted sport for years - particularly in football," Lammert told daily Bild.
"If the wealthiest German football club buys a Brazilian teenager for 14 million Euros and gives him an income which most family men can not gain after years of hard work, something is wrong."
Lammert was backed by other German politicians, who also called for limiting the huge amount of funds spent on football in the three-time World Cup winning nation.