More Tax dollars being pissed away

The Sponge

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I know the right wingers don't mind our tax dollars being pissed away time and time again by the war profiteers. They think someday they will be millionaires so stealing like this is okay with them. We will be in Iraq a very long time and as long as the biggest legal extortion ring headed by Bush and Cheney keeps on robbing our tax dollars will keep on building over there. This is the biggest reason we are in Iraq and we don't give two shits about thoses Iraq's. Im sure right before the election Fox news will run stories of the looting in New Orleans. They will show black after black stealing those three hundred dollar Tv's. They do this to divide people. Its called the race card. What they ought to do is take a look at the looting over in Iraq. Last time i checked there was 15 billon of our tax payer dollars missing. That's billions fellows and not three hundred dollar Tv's.


Whistle-blower slams Iraq contractor


By Deborah Hastings / Associated Press

Halliburton subsidiary Kellogg, Brown & Root charged millions to the government for recreational services never provided to U.S. troops in Iraq, including giant tubs of chicken wings and tacos, a widescreen TV, and cheese sticks meant for a military Super Bowl party, according to a federal whistle-blower suit unsealed Friday.

Instead, the suit alleges, KBR used the military's supplies for its own football party.

Filed last year in U.S. District Court in Washington, D.C., by former KBR employee Julie McBride, the lawsuit claims the giant defense contractor billed the government for thousands of meals it never served, inflated the number of soldiers using its fitness and Internet centers, and regularly siphoned off great quantities of supplies destined for American soldiers.

McBride was hired by KBR in 2004 as a "morale, welfare and recreation" coordinator at Camp Fallujah, a Marine installation about 35 miles west of Baghdad. She was fired the next year after making several complaints about KBR's accounting practices, the suit says, and was kept under guard until she was escorted to an airplane and flown out of the country.

Halliburton denied McBride's allegations.

"The claims included in this lawsuit clearly demonstrate a complete misinterpretation of facts as well as a lack of understanding of KBR's contractual agreements with its customer," said company spokeswoman Melissa Norcross in an e-mail to The Associated Press.

The Super Bowl incident occurred in January 2005, the suit said. "McBride witnessed a large amount of food that was ordered specifically for a Super Bowl party for the military" taken instead to the company's lodgings. "About 10 large metal tubs full of tacos, chicken wings, (and) cheese sticks were taken from the military party site to a KBR camp for a KBR Super Bowl Party for KBR employees," according to the complaint. A widescreen TV was also removed.

McBride worked 12-hour shifts, seven days a week, at Camp Fallujah's recreation center, where the government was billed according to the number of soldiers using the contractor's facilities, which included a weight room, video games, Internet cafe, a library and phone bank, the suit says. She alleges that KBR deliberately overstated the number of military personnel using its services by counting the same person several times. For example, a person who used a computer was counted as one. If that person went on the weight room, another count was added to the list of patrons.

"It wasn't double-dipping, but triple dipping or even quadruple billing," the suit claims.

Attorney Alan Grayson, who represents McBride, said "millions of dollars have been submitted by Halliburton for recreational services" not provided.

The "qui tam" suit, filed under the federal False Claims Act, allows citizens to sue on behalf of the government against contractors who make false claims for payment. The plaintiffs are eligible to receive a percentage of awarded damages, which are tripled in this type of suit.

Such suits are usually sealed for 60 days while the Justice Department investigates the claims and decides whether the U.S. Attorney's office will sign on as a co-plaintiff.

The Justice Department declined comment Friday on why it chose not to participate in McBride's suit.

McBride is not the first Halliburton employee to allege fraudulent billing practices. The company has steadfastly denied wrongdoing.

Rory Mayberry, who worked for KBR in 2004, testified from Iraq via videotape to a group of Democratic members of Congress investigating contractor fraud.

As food manager at another military camp in Iraq, Mayberry said he witnessed KBR employees serving spoiled food to American troops, including food from trucks that had been bombed and shot at. Workers were told to pick out the shrapnel, and then serve the food, Mayberry testified.

He also claimed KBR charged the government for meals it never served.

In July 2004, former KBR planner Marie DeYoung testified before the House Committee on Government Reform. She said she witnessed "significant waste and overpricing" while working for the contractor in Kuwait, including paying a subcontractor $100 per 15 pounds of laundry, costs which were passed on to the government.

Halliburton, which holds more than 50 percent of rebuilding contracts in Iraq, was headed by Dick Cheney before he took office as vice president. He has denied any government favoritism toward his former company.
 
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StevieD

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Along those same lines.

Biggest Defense Contractors Raise CEOs' Pay 200% Since 9/11
Ratio of CEO-to-Worker Pay Shoots Up to 431:1
http://baltimorechronicle.com/2005/100305PolicyStudies.shtml

SOURCES: Institute for Policy Studies and United for a Fair Economy
If the minimum wage had risen as fast as CEO pay, the lowest-paid workers in
the US would be earning $23.03 an hour today


2004 was a banner year for CEOs and a dismal year for workers, according to
a new report from the Institute for Policy Studies and United for a Fair
Economy, "Executive Excess 2005: Defense Contractors Get More Bucks for the
Bang."
The ratio of average CEO pay (now $11.8 million) to worker pay (now $27,460)
spiked up from 301-to-1 in 2003 to 431-to-1 in 2004.


If the minimum wage had risen as fast as CEO pay since 1990, the lowest-paid
workers in the US would be earning $23.03 an hour today, not $5.15 an hour.


The report found that CEOs are individually profiting from the Iraq War,
with huge average raises at the biggest defense contractors.


At the 34 publicly traded US corporations among the 2004 top 100 defense
contractors with 10% or more of their revenues from defense
contracts-companies such as United Technologies, Textron, and General
Dynamics-average CEO pay increased 200% from 2001 to 2004, versus 7% for all
CEOs.


For example, David H. Brooks, CEO of bulletproof vest maker DHB Industries,
earned $70 million in 2004, 3,349% more than his 2001 compensation of
$525,000. Brooks also sold company stock worth about $186 million last year,
spooking investors who drove DHB's share price from more than $22 to as low
as $6.50. In May 2005, the US Marines recalled more than 5,000 DHB armored
vests after questions were raised about their effectiveness. By that time,
Brooks had pocketed over $250 million in war windfalls.


Since September 11, the ratio between median pay for defense CEOs and pay
for military generals has nearly doubled to 23-to-1, up from 12-to-1 just
three years earlier. The pay ratio between defense CEOs and army privates
soared to 160-to-1, up from just 89-to-1 in 2001.


The report reviewed trends in CEO pay and gave CEO "Hall of Shame" awards to
executives who have exemplified five types of excessive pay:


PENSION UNDERFUNDERS: The CEOs of those firms with the most underfunded
pensions, on average, received 72% more than the average large-company CEO.
Inducted into the CEO Hall of Shame in this category is Exxon Mobil's Lee
Raymond.


TAX DODGERS: 46 large companies paid no federal income tax in 2003, despite
collectively earning $30 billion in profits. Some of the savings wound up in
the pockets of their CEOs, who made $12.6 million in average pay in 2004.
Inducted into the CEO Hall of Shame in this category is Pfizer's Hank
McKinnell.


BOOK COOKERS: In the last ten years, CEOs of firms with shady accounting
appeared 18 times on the top ten lists of highest paid executives. This
includes leaders whose companies were either later found to have committed
fraud or were forced to make material restatements of earnings to correct
previous overstatements of profits. Inducted into the CEO Hall of Shame in
this category is Tyco's Dennis Kozlowski, the highest-paid book cooker-more
than a half billion dollars.


STOCK TANKERS: If you had invested in the stock of the company led by the
year's single highest-paid CEO each year since 1990, you actually would have
lost money. You would have done nearly six times better by investing in the
S&P 500 index. A $10,000 investment in such a Greedy CEO portfolio in 1991
would have decreased in value to $8,079 by the end of 2004, while a similar
investment in the S&P 500 would have increased to $48,350. Inducted into the
CEO Hall of Shame in this category is Computer Associates' Charles Wang.


GROSS PAY: Over the last 15 years, the cumulative pay of the ten
highest-paid CEOs in each year together totals more than $11.7 billion.
Inducted into the CEO Hall of Shame in this category is Citigroup's Sandy
Weill, whose $1.1 billion in cumulative pay since 1990 topped all others.
US tax law allows companies to deduct executive compensation as a
"reasonable business expense," but no standard limit to the deductions has
been established.


These disproportionate CEO salaries are often subsidized by American
taxpayers. US tax law allows companies to deduct executive compensation as a
"reasonable business expense," but no standard limit to the deductions has
been established. The report suggests implementing legislation such as the
Income Equity Act, introduced by Rep. Martin Olav Sabo (D-MN), which would
cap these deductions at no more than 25 times the salary of the lowest-paid
worker. The report also favors making corporate boards, which approve CEO
compensation, more accountable to shareholders.
Authored by Sarah Anderson, John Cavanagh, Scott Klinger, and Liz Stanton,
"Executive Excess 2005" is the twelfth annual CEO pay study by the Institute
for Policy Studies (IPS) and United for a Fair Economy (UFE). The IPS is an
independent center for progressive research and education in Washington, DC.
UFE is a national organization based in Boston that spotlights growing
economic inequality.
 

BetterUp

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Yea ... for democracy
Yea........for Profits
Yea........... for a one world govt.:nono:

:shrug:

:scared

:com:
 

The Sponge

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Stevie some times you just have to bite the bullet and join these rotten un american a--holes. I said this to all my buddies but i didn't do it myself. I told them all to invest in oil and invest in security and arms. When Jeb gets in there and he will at some point of time, find out who the big profiteers were in this administration. U see these scumbags are heavily invested in arms (carlye group ect..) What they do is create wars so the arms manufacturers run wild. The biggest waste of money in America is defense spending. If you saw what we spend compared to the rest of the world you would pass out. The republicans make the Dems feel weak when they cut programs. The democrats are to stupid on how to explain why they are cutting them. When the republicans cut programs all they do is have another one to step right in its place.
I told everyone who would listen that if Bush won a second term gas would go to 3 dollars a gallon. I was a little light on my guess as it went close to 3.50. My buddy told me no way because Bush bought his vote with that petty tax cut he got. Bush was able to give that tax cut because Clinton saved him a boat load of money. The one the oil companies took back and then sum. I also said this would happen if Bush senior won a second term. These are not true americans these are greedy scumbags. But they con people and people fall for it so what really can you do? They steal and steal and steal and all these nitwits do is blame Clinton. Who gives a crap about Clinton? If he was doing this id call him an asshole to.
 

smurphy

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Ratio of CEO-to-Worker Pay Shoots Up to 431:1
.
This is one of the most depressing statistics in this country. Greed to that extent is NOT good, contrary to what Gordon Gecko says.

Hard to fathom that this imbalance gets worse and worse. Just a little diluting would be noce ....just a little. It's not like CEO's are better people than average workers. Kick a lil' down and spread the wealth. It's not like anyone at the top would somehow be worse off with 50 million instead of 500 million $. It makes no difference to them, but could elevate so many others to a better quality of life.
 
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