Lockheed Martin: The single largest recipient of U.S. tax dollars

Chris | InformationLiberation
Jan. 04, 2011

Ahh, the spoils of being a corporate welfare queen!

Yahoo Finance reports:
With $40 billion in annual revenue, Lockheed Martin is the single largest recipient of U.S. tax dollars. The company receives about $36 billion in government contracts per year.   In 2008, $29 billion of that was for U.S. military contracts -- a dollar figure 25% higher than its competitors Boeing Co. and Northrop Grumman.

What does that mean for you, the U.S. taxpayer? According to Hartung, each taxpaying household contributes $260 to Lockheed's coffers each year! [...]

"They have got their fingers everywhere now," Hartung tells Aaron. As outlined in his book, Lockheed does way more than produce military aircraft and weaponry. From the U.S. Census Bureau to the U.S. Postal Service to the Internal Revenue Service, "pretty much name a government agency and they are involved," he says. [...]

Another key factor that has helped the defense contractor secure the most U.S. military contracts is the company's ability to exploit the revolving door between Washington, the industry and itself, says Hartung.  Not only has this led to the company having strong influence over those who hold the U.S. government's purse stings, many who are former Lockheed employees or board members, it has allowed the company to influence foreign policy decisions like pressing for war with Iraq.

In the publicity notes for the book, Hartung claims "Lockheed Martin has also funded right-wing think tanks that have done everything from press for war with Iraq to lobby for the "Star Wars" missile defense program." He tells Aaron that they are using these think tanks to make the points that are "embarrassing to make themselves."
Interestingly, the rest of the report says how Lockheed Martin is "too big to fail" and merely needs to be "reformed."

Sounds like they've got nothing to worry about.

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