Foxconn's Dubious Deal: Foxconn a NO-Show at WI public hearing!!

[riversedge]

Republicans and Gov Walker are just wasting more taxpayer money. damn




Foxconn's Dubious Deal

https://www.bloomberg.com/view/articles/2017-08-03/foxconn-s-dubious-deal?utm_content=billionaires&utm_campaign=socialflow-organic&utm_source=twitter&utm_medium=social&cmpid%3D=socialflow-twitter-billionaires


There are good ways and bad ways to lure jobs. This is the latter.

by The Editors
August 3, 2017, 7:55 AM CDT


https://www.bloomberg.com/view/articles/2017-08-03/foxconn-s-dubious-deal?utm_content=billionaires&utm_campaign=socialflow-organic&utm_source=twitter&utm_medium=social&cmpid%3D=socialflow-twitter-billionaires
Laugh it up, dudes. Photographer: Andrew Harrer/Bloomberg



It’s a “once-in-a-century opportunity,” says Wisconsin Governor Scott Walker. For taxpayers' sake, he'd better be right.

Walker’s state is offering Foxconn Technology Group, maker of iPhones and much else, a staggering $3 billion in incentives to build a local factory. Optimistically, the deal will eventually create 13,000 direct jobs, at a mere public cost of $15,000 or so each -- that’s per job, per year. Wisconsin’s legislature is now mulling the plan.

Such incentives are generally an awful way to lure jobs -- expensive, inefficient and fraught with unintended consequences. They can prompt costly bidding wars between states and impede other budget priorities. They have little effect on employment, growth or wages. They may induce unwise borrowing. Companies often come back again and again, as blackmailers tend to, seeking yet more blandishments. And nothing stops them from walking away when times get tough.

States are also apt to loosen the rules. Among other perks, Foxconn won’t need to obtain the state permits ordinarily required to discharge dredged material into local wetlands. Nor will it have to submit to standard environmental-impact studies. Such exceptions make for irrational public policy.............



X-posted from WI Group:

Link to tweet

Jennifer Shilling?Verified account @SenShilling

The fact that Foxconn was a no-show at yesterday's public hearing raises more questions about their level of commitment to Wisconsin.

Link to tweet

Foxconn's Wisconsin factory will only help a few people in an unpromising industry find temporary work

Link to tweet

[dalton99a]

1. "Foxconn's Wisc. factory will only help a few people in an unpromising industry find temporary work"

Best description right there

[Wellstone ruled]

2. Aw Gee Whiz,you are surpised,not.

We just endured this same Bullshit here in the Vegas Valley. Our Governor,Attorney General,and the Mayor of North Las Vegas bought this Garbage hook line and sinker. Faraday Motors,Billions of Dollar's promised and luckily only a few thousand was issued to date. Another Chinese Bullshit artist scamming the GOP power brokers with those mythical five thousand jobs

Wisconsin does not have the Tax Base left to even think about any Bonding or other means to raise this type of money. Walker and the GOP with the help of the Koch Brothers have wrecked any Tax base that once was one of the best and most Progressive in the Nation.

[BigmanPigman]

3. Is his WI base aware of this?

[Wellstone ruled]

4. Short answer is NO!!!!!

Wisconsinite's have on Print media source controlled by the Milwaukee Journal which in turn controls most of the Regional Papers. Hate Radio controls the Air Waves. Sinclair pretty much controls the TV outlets.

[BigmanPigman]

5. The right wing controlled propaganda is an important tool of the GOP

and almost equal to gerrymandering in determining elections. Sinclair and Circa need to be stopped somehow.

[Wellstone ruled]

6. Oh the Gerrymandering is just plain ugly.

There are areas where District Boundaries are purposely drawn to exclude Democratic Voters from Republican Voters on the same City Blocks in Chippewa Falls and again in Janesville. This is so common in every damn District.