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We know the CEOs of healthcare corporations do really well financially but did you know the CEOs of healthcare trade associations do very well according to a new report by the Kaiser Family Foundation released today. Trade associations don't make anything that helps the economy grow. Their role is to protect their member's profits by suborning congress.
Nine of 12 health care trade associations paid their CEOs compensation of $1 million or more, including bonuses, deferred compensation and other benefits, according to tax records for 2009.
Billy Tauzin, the former CEO of PhRMA, and former Congressman from Louisiana, is among those who received a bonus. On top of his base pay of $2.1 million, he was awarded a $2.3 million bonus.
Another key health care player, Scott Serota, CEO of Blue Cross and Blue Shield Association, earned a bonus of $1.6 million on a base salary of $856,055, and BCBSA chief lobbyist Alissa Fox received a $130,000 bonus plus base pay of $278,760. Chip Kahn, CEO of the Federation of American Hospitals, received a base salary of $900,000 and a bonus of $315,000, while Jeff Cohen, one of the group’s top lobbyists, earned $325,000 in base pay and a bonus of $65,000.
Angry enough? Read more: Many CEOs Of Health Industry Groups Earned Big Bonuses
Workers in BMW's auto plants in Germany make twice as much as US workers in BMW plants who make $15 an hour. Oh and by the way German workers get 35 days of vacation AND decent healthcare.
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