Private profits from taxpayer dollars

Here's six good reasons why we need to reform government spending before we think about reducing taxes. This fellows run companies that contract with the US government for services. This information was first published in 2014...

 1. George Zoley, CEO of private prison giant GEO Group, made $22 million in compensation between 2008 and 2012. GEO Group makes 86 percent of its revenue from taxpayers. GEO Group writes language into private prison contracts that forces taxpayers to keep prisons full or else pay for empty beds. GEO Group has faced hundreds of lawsuits over prisoner deaths, assaults, excessive force, and more, which have led to secret court settlements.
 2. David Steiner, president and CEO of Waste Management, took $45 million in compensation from 2006-2012. Waste Management makes about 50 percent of its revenue from taxpayers, says Goldman Sachs.
 3. Ron Packard of K12 Inc. made more than $19 million in compensation between 2009 and 2013, despite the alarming fact that only 28 percent of K12 Inc. cyber schools met state standards in 2010-2011, compared to 52 percent of public schools. K12 Inc. makes 86 percent of its revenue from the taxpayers.
 4. Jeffry Sterba, president and CEO of American Water Works Company, has made $8.3 million in the three years he has been top executive. American Water is the largest for-profit provider of water and wastewater services in the United States. CMD estimates that American Water makes approximately 89 percent of its revenue from taxpayers.
 5. Richard Montoni, CEO of Maximus. Maximus is a for-profit firm that handles government services for poor and vulnerable residents. Montoni made more than $16 million between 2008 and 2012. In 2013, Maximus landed in hot water for improper billing in Wisconsin. In 2007, Maximus paid $30 million to settle a Department of Justice criminal investigation into fraudulent billing.
 6. Nicholas Moore is managing director and CEO of the Australian infrastructure firm Macquarie. Moore made $8.8 million in compensation in fiscal year 2013. As a member of the American Legislative Exchange Council (ALEC), Macquarie has pushed for privatization of public services across the board. It has long-term contracts to run Chicago's Skyway, Indiana's Toll Road, and the Dulles Greenway in Virginia.


Popular posts from this blog

Surviving Politics

A Wall Of Drones