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Wed Sep 13, 2017, 10:40 AM

Wisconsin Senate approves $3 billion for Foxconn

Source: AP



By SCOTT BAUER
Today


MADISON, Wis. (AP) — The Wisconsin Senate approved nearly $3 billion in cash payments for Foxconn Technology Group on Tuesday, while also giving the Taiwanese company a slightly less expedited path to the state Supreme Court for certain legal challenges related to a planned massive electronics manufacturing factory.

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The Republican-controlled Senate discounted Democratic concerns that there weren’t enough protections for taxpayers under the unprecedented incentive package. It would take 25 years for taxpayers to see a return on the investment, the nonpartisan Legislative Fiscal Bureau said.

“Taxpayers know it’s going to cost them $3 billion but they have no idea what they’re buying,” said Sen. Jon Erpenbach, a Democrat from Middleton, during debate. “There are no guarantees in this legislation and we don’t even know what we’re buying.”

Republican Sen. Alberta Darling,....................................

A dozen Democratic changes pushed Tuesday and rejected by Republicans sought to prioritize Wisconsin workers and businesses, protect taxpayers from overpayments to Foxconn and increase environmental oversight...............................................

Read more: https://apnews.com/f0e63869be7c4fb7baf4ee6c58461713?utm_campaign=SocialFlow&utm_source=Twitter&utm_medium=APCentralRegion



Wisconsin is forgoing major transportation funding and school funding--while we have enough $$ it seems to give to a major corp






Walker and Trump’s Foxconn Deal May Be Worst in American History


https://ourfuture.org/20170913/walker-and-trumps-foxconn-deal-may-be-worst-in-american-history
September 13, 2017
Robert Kraig


Governor Scott Walker and Donald Trump claim their $3 billion subsidy to Taiwanese electronics giant Foxconn will create thousands of jobs in Wisconsin. But when you dig into the numbers, the Foxconn deal looks like one of the biggest swindles in American history, a scandal waiting to happen.

While it is Governor Walker and not Trump who is really cutting this deal, it sets a dangerous precedent, which could affect every state.


To understand how big the threat is, it is important to understand just how bad the Foxconn deal really is, and to look closely at what they’re proposing. The magnitude of the public expenditure is stunning. It is not really a tax break, but a direct public subsidy of $3 billion dollars.

Bribing big companies to stay or leave, and therefore allowing profitable corporations to exact public resources while shifting costs onto everyone else, is often what passes for economic strategy at the state and local level these days.

But as destructive and self-defeating as the subsidy game is already at the state level, the Foxconn deal shows Trump wants to supersize these giveaways to a national, billion-dollar scale never seen before.

The Foxconn Trap.............

15 replies, 1550 views

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Arrow 15 replies Author Time Post
Reply Wisconsin Senate approves $3 billion for Foxconn (Original post)
riversedge Sep 13 OP
exboyfil Sep 13 #1
iluvtennis Sep 13 #2
toddwv Sep 13 #12
KY_EnviroGuy Sep 13 #3
redixdoragon Sep 13 #5
KY_EnviroGuy Sep 13 #15
Wellstone ruled Sep 13 #4
mountain grammy Sep 13 #6
dalton99a Sep 13 #10
Bengus81 Sep 13 #7
sinkingfeeling Sep 13 #8
HelenWheels Sep 13 #9
Wuddles440 Sep 13 #11
iluvtennis Sep 13 #13
Egnever Sep 13 #14

Response to riversedge (Original post)

Wed Sep 13, 2017, 10:48 AM

1. No equality under the law?

I can't see how you can carve out a special judicial exemption for a specific company.

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Response to riversedge (Original post)

Wed Sep 13, 2017, 10:48 AM

2. Money that will take many, many, many years to recoup per the financial analysts

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Response to iluvtennis (Reply #2)

Wed Sep 13, 2017, 04:10 PM

12. By that time,

FoxConn will have moved on to greener pastures.

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Response to riversedge (Original post)

Wed Sep 13, 2017, 10:55 AM

3. Socialism??

Does this not fit the textbook definition of socialism: "government ownership of the means of production"?



Where are all the Repugs screaming "SOCIALISM" on every street corner, as they would be if a Democrat was pushing this insane measure?

Foxconn has a reputation for flim-flam that even exceeds that of tRump, Inc.

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Response to KY_EnviroGuy (Reply #3)

Wed Sep 13, 2017, 11:33 AM

5. Socialism is the public ownership of the means of production

This is the appropriation of public funds to bolster the private ownership of the means of production.

We've hurt the working conditions in this country bad enough where they'll bring a company who sets up factories with nets out the windows to catch suiciding laborers driven to the brink by the horrific conditions inside, while they live on site, in rooms barely large enough for a set of bunk beds.

If they even build this factory,and dont' just take the money and run, expect it to be burning in not too long.

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Response to redixdoragon (Reply #5)

Wed Sep 13, 2017, 09:04 PM

15. Thanks for the clarification - Wisconsin would not have ownership.

What really stumps me is that people in several states were in a tax-break war over this idea, when anyone with enough sense to get in out of the rain knows there's no way in hell that we can produce commodity electronic parts at a lower cost than a similar facility in Taiwan or any number of Asian nations. If they hyper-automate it, then they will not hire many people, but they can automate it anywhere.

And, Pennsylvania (according to Bloomberg) was one of the states competing, when they've already been screwed by Foxconn before. Even big Apple has not been able to put effective leverage on them to improve working conditions and safety. Therefore, one might logically conclude this is nothing more than political flim-flam.

Am I missing something?

This is from late July, but tell us a lot: https://www.bna.com/foxconn-factory-triggers-n73014462286/

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Response to riversedge (Original post)

Wed Sep 13, 2017, 11:12 AM

4. Wow,these

Wisconsin Republicans are on the verge of Bankrupting the State. There is not enough slack in their Bonding Cap to pull this off and if they do,how in the heck can they service this debt. Stupid is stupid.

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Response to riversedge (Original post)

Wed Sep 13, 2017, 11:38 AM

6. This has "sucker" plastered all over it.

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Response to mountain grammy (Reply #6)

Wed Sep 13, 2017, 12:49 PM

10. Yep.

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Response to riversedge (Original post)

Wed Sep 13, 2017, 11:57 AM

7. They'll be as STUPID as they are in Kansas....

Boeing received tax break after tax break, a zillion sq ft of manufacturing space and no prop tax. So after being in Wichita since the 20's about ten years ago they BLEW town (after slowly phasing out manufacturing) when they found cheap labor and never looked back.

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Response to riversedge (Original post)

Wed Sep 13, 2017, 12:10 PM

8. Do they have citizen originated recalls in Wisconsin?

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Response to riversedge (Original post)

Wed Sep 13, 2017, 12:29 PM

9. Foxconn poses environmental threat

Gov. Walker has given Foxconn free rein with the environment. They have no controls put on them regarding waste disposal, interference with rivers, ponds or other waterways and they will be allowed to disrupt wet lands. Beyond disgusting.

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Response to riversedge (Original post)

Wed Sep 13, 2017, 03:33 PM

11. Obscene corporate welfare....

given to one of the sleaziest companies in the world by some of the most sleaziest "public servants" of Kochestan.

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Response to Wuddles440 (Reply #11)

Wed Sep 13, 2017, 06:08 PM

13. Indeed.

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Response to riversedge (Original post)

Wed Sep 13, 2017, 06:38 PM

14. RIP Wisconsin

I hardly knew ye

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