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Taxpayers Pad Military Contractor CEO Pockets

Business  (tags: boondoggle, CEO Pay, CEOs, F-22, F-35, general electric, Honeywell, Inequality, Jan Schakowsky, Lockheed Martin, Military Contractors, United Technologies )

- 1721 days ago -
Would you believe me if I told you that your tax dollars are lining the pockets of some of the highest-paid CEOs? (Sadly, probably not.)

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JL A (281)
Tuesday September 3, 2013, 4:52 pm
While much of the data present should be grounds for concern no matter where on the political spectrum one is, this quote gives a taste of why it should leave a bad taste in everyone's mouth:

"In 2012, U.S. government contracts accounted for 82 percent of Lockheed’s net sales.

A massive chunk of these public funds has wound up in the pockets of the company’s executives. Five times over the past 20 years Lockheed CEOs ranked among America’s top 25 highest-paid chief executives, earning sums that dwarf the pay levels of any U.S. military general or, for that matter, the commander in chief.

These taxpayer dollars haven’t inspired superior CEO performance. Lockheed Martin stands responsible for one of the most wasteful military projects of all time, the F-22 Raptor. At a cost of $339 million each, this plane became the most expensive fighter jet ever built— and never saw action in actual fighting."

Thanks Judy for reminding us of where our money actually is flowing and how wealth is being diverted upward via taxes and contracts based on current government policies and Congressional military budget decisions.

Joanne D (38)
Tuesday September 3, 2013, 9:56 pm
Oh yeah, and as JL says, if they aren't getting it in the form of contracts they are getting it in the form of tax breaks. It's shameful. Except CEO's have no shame.

Jonathan H (0)
Wednesday September 4, 2013, 4:35 am

Mitchell D (87)
Wednesday September 4, 2013, 12:02 pm
But, yes, I do believe you. I also believe that Rep. Boehner has had legislation approved, some years ago, that REQUIRES the Air Force to accept duplicates of all parts ordered from a suppier in his district. Small gov't, cut gov't expenses...only when it serves their purposes, such as keeping the poor poor.

Dianna M (16)
Wednesday September 4, 2013, 3:10 pm
POGO posted an article as early as last October about defense contractors' compensation packages ( And even earlier, I read an article--which I can't seem to find again, dang it!--on how the big defense contractors were laying off workers so that they could pay their CEOs bigger bonuses.

So--no, I don't disbelieve you.

Lois Jordan (63)
Wednesday September 4, 2013, 4:55 pm
Isn't it about time we stopped calling them "defense contractors" and keep it real? They are "war contractors." They swallow up our tax dollars and funnel them for more violence, destruction and murder of innocents....all in the name of their Bottom Line. No more wars!

Nancy M (197)
Wednesday September 4, 2013, 5:18 pm
Thanks for the information. Not surprising. Yet some worry more about people on food stamps using all their tax dolalrs.

reft h (66)
Wednesday September 4, 2013, 11:24 pm
Good point Nancy M.
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