Meet the 0.01 Percent: War Profiteers
There's the top 1% of wealthy Americans (bankers, oil tycoons, hedge fund managers) and there's the top 0.01% of wealthy Americans: the military contractor CEOs. If you've been following the War Costs campaign, you already know that these corporations are bad bosses, bad job creators and bad stewards of taxpayer dollars. What you may not know is that the huge amount of money these companies' CEOs make off of war and your tax dollars places them squarely at the top of the gang of corrupt superrich choking our democracy. These CEOs want you to believe the massive war budget is about security -- it's not. The lobbying they're doing to keep the war budget intact at the expense of the social safety net is purely about their greed. In many areas, including yearly CEO salary and in dollars spent corrupting Congress, these companies are far greater offenders than even the big banks like JP Morgan Chase or Bank of America.
Egregious Military Contractor CEO pay
The top 0.01% of earners make at least $9.14 million per year, a rarefied strata of income that includes defense company CEOs and Wall Street bank chieftains alike. But a deeper dive demonstrates how defense companies outpace the big banks' knack for enriching themselves at the expense of everyone else.
Military Contractor CEO Pay in 2010
- Northrop Grumman CEO Wes Bush: $22.84 million.
- Lockheed Martin CEO Robert Stevens: $21.89 million.
- Boeing CEO James McNerney: $19.4 million.
- JP Morgan Chase CEO James Dimon: $20.81 million.
- Wells Fargo CEO John Stumpf: $18.97 million.
- Bank of America CEO Brian Moynihan: $1.94 million.
- JP Morgan Chase:$7.41 million.
- Wells Fargo: $5.43 million.
- Bank of America: $3.98 million.