Drafting my additional sections to the War profiteering article:
Add to lead section:
The ten highest war profiteers are Lockheed Martin, Boeing, BAE Systems, General Dynamics, Raytheon, Northrop Grumman, EADS, Finmeccanica, L-3 Communications, and United Technologies.[1] These corporations have significant political influence given their lobbying efforts and campaign contributions to Members of the United States Congress. In 2010, the defense industry spent $144 million on lobbying and donated over $22.6 million to congressional candidates.[2]
Military-Industrial Complex
The phrase "military-industrial complex" was coined by President Dwight D. Eisenhower in his 1961 Farewell Address. This term describes the alliance between military leaders and arms merchants. Military officials attempt to obtain higher budgets, while arms manufactures seek profit. President Eisenhower warned the American people that going to war might not serve the interest of the nation, rather the institution of the military and weapons-producing corporations. The Iron Triangle comes into play here due to war profiting industries who make financial contributions to elected officials, who then distribute taxpayer money towards the military budget, which is spent at the advantage of arms merchants. The military-industrial complex allows for arms-producing corporations to continue to accumulate significant profit.
A prominent example of the impact arms-producing industries have over American policy is evident in the case of Lockheed Martin donating $75,000 to House Armed Services Committee chair Representative Mac Thornberry (R-TX). Rep. Thornberry later passed a bill through the House of Representatives that would benefit Lockheed Martin. It was clear this decision was made as a direct result of the influence of Lockheed Martin.[3] Politico has stated Rep. Thornberry is the "highest overall recipient of contractor contributions among all of the 89 members of the House and Senate Armed Services Committees."[4]
The Iraq War Profiteers:
One of the top profiteers from the Iraq War was oils field services corporation, Halliburton. Halliburton gained $39.5 billion in "federal contracts related to the Iraq war".[5] Many individuals have asserted that there were profit motives for the Bush-Cheney administration to invade Iraq in 2003. Dick Cheney served as Halliburton's CEO from 1995 until 2000. Cheney claimed he had cut ties with the corporation, although according to a CNN report, "Cheney was still receiving about $150,000 a year in deferred payments."[6] Cheney vowed to not engage in a conflict of interest however, the Congressional Research Office discovered Cheney held 433 Halliburton stock options while serving as Vice Preisdent of the United States.[7] 2016 Presidential Candidate, Rand Paul referenced Cheney's interview with the American Enterprise Institute in which Cheney said invading Iraq "would be a disaster, it would be vastly expensive, it would be civil war, we'd have no exit strategy...it would be a bad idea". Rand continues by concluding "that's why the first Bush didn't go into Baghdad. Dick Cheney then goes to work for Halliburton. Makes hundreds of millions of dollars- their CEO. Next thing you know, he's back in government, it's a good idea to go into Iraq."[8] Another prominent critic is Huffington Post co-founder, Arianna Huffington. Huffington said, "We have the poster child of Bush-Cheney crony capitalism, Halliburton, involved in this. They, after all, were responsible for cementing the well."[9]
I would like to add a section on the Military-Industrial complex. This phrase was coined by President Dwight Eisenhower in his 1961 Farewell Address. This alliance between military leaders and arms producing manufacturers have a shared interest in going to war and maintaining an aggressive foreign policy. Eisenhower warned the American people to be vigilant of this complex.
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- ^ "10 companies profiting the most from war". USA TODAY. Retrieved 2017-02-16.
- ^ Hartung, William (2011). "Tools of Influence: The Arms Lobby and the Super Committee". www.ciponline.org. Retrieved 2017-02-18.
- ^ Hartung, William; Miles, Stephen (2015-06-01). "Arms Industry Ramps Up Lobbying Efforts As Budget Battles Continue". The Huffington Post. Retrieved 2017-02-18.
- ^ "Meet the Defense Industry's Favorite Committee". POLITICO Magazine. Retrieved 2017-02-18.
- ^ "Subscribe to read". www.ft.com. Retrieved 2017-02-24.
{{cite web}}: Cite uses generic title (help) - ^ "CNN.com - Halliburton asks employees to help defend company - Oct. 25, 2003". www.cnn.com. Retrieved 2017-03-01.
- ^ "CNN.com - Halliburton asks employees to help defend company - Oct. 25, 2003". www.cnn.com. Retrieved 2017-03-01.
- ^ "Rand Paul in '09: Cheney pushed Iraq war to benefit Halliburton". Washington Post. Retrieved 2017-02-24.
- ^ TV, Huff (2010-06-06). "Arianna Battles Liz Cheney Over Gulf Spill, Halliburton, Gaza Crisis On 'This Week' (VIDEO)". The Huffington Post. Retrieved 2017-02-24.