“I think you misinterpreted my comment below. I never said war profiteering doesn't exist, it definintely does. There are a lot of things wrong with the defense contracting system, as well as a lot of other establishments. However, it's always important to have as many facts as possible in each situation, as nothing is one-sided.”
Dana Pistole on Oct 30, 2011 at 21:03:08
“I didn't misinterpret your comments. You imply that defense profits are somehow regulated,or capped.My point is that we have spent too much on defense since the Cold War ended. Please go to PBS web site and type in the word Chuck Spinney to get his view of defense spending. He was an Air Force Col. who worked in the Pentagon for over 20 years.”
“I fail to see the relevance of your comment to my post. I was only interested in making sure additional facts were presented so individuals can have a more informed view of defense contracting and understand that taxpayer dollars only go towards a small percentage of the CEO salaries. The rest comes from the company's own profits. While the US Government does allow profit within contracting, there is still a cap to that profit. I never said anything about secret contracts worth $7B...”
Jet21 on Oct 28, 2011 at 20:33:41
“Your post defends the military industrial complex as if war profiteering doesn't exist. It most certainly does. When the White House and people in power do this kind of thing it smacks of war profit. That makes your post-moot.”
“You should check out the Financial Acquisition Regulations, which Defense Contractors are required to follow. It limits the amount of taxpayer dollars the defense contractors actually get.”
Jet21 on Oct 28, 2011 at 11:36:28
"Even before the first shots were fired in Iraq, the Pentagon had secretly awarded Halliburton subsidiary Kellogg, Brown & Root a two-year, no-bid contract to put out oil well fires and to handle other unspecified duties involving war damage to the country's petroleum industry. It is worth up to $7 billion. "
“Actually, the Federal Acquisition Regulations (which defense contractors are required to follow), limit what taxpayers pay for CEO salaries. Additionally, a significant amount of lobbying costs are also not paid for by taxpayers, in accordance with these regulations. The government does not limit what corporate employees are paid, but it does limit what amount is paid for by the U.S. Government, and the amount paid by taxpayers is not even $1million/year for each executive.
So, while this article is eye-opening regarding the amount of money paid to individuals in corporate America, taxpayers do not need to be concerned that their tax dollars are paying for those astronomical salaries or lobbying expenses.”