Hello Wisconsin!!

[JustRalph]

http://hotair.com/archives/2017/07/26/gov-scott-walker-president-trump-announce-foxconn-factory-wisconsin/

Trump announces Foxconn plant

Largest in the history of the State.......

[Saratoga_Mike]

Big corporate welfare on this deal, though -- $230k/job between federal and state tax incentives.

[jms62]

FoxCONn has made these promises before when anticipating heat in the US. Maybe this time is different but declaring victory this early will certainly comeback to bite him in the Ass if they once again fail to deliver.


https://www.adn.com/nation-world/2017/03/03/foxconns-broken-pledges-in-us-cast-doubt-on-trump-jobs-plan/

[JustRalph]

Big corporate welfare on this deal, though -- $230k/job between federal and state tax incentives.

I heard on the radio, as long as the jobs last 3 yrs everything after that is gravy. It's the peripheral stuff that makes it worth while in the beginning anyway. Construction etc.

We went through the same thing in Ohio years ago with Honda. It's turned out great. Let's hope it does in Wisconsin

[Saratoga_Mike]

I heard on the radio, as long as the jobs last 3 yrs everything after that is gravy. It's the peripheral stuff that makes it worth while in the beginning anyway. Construction etc.

We went through the same thing in Ohio years ago with Honda. It's turned out great. Let's hope it does in Wisconsin

Good news, but I don't like handouts (whether it's Dems giving them out or Reps).

[Clocker]

Good news, but I don't like handouts (whether it's Dems giving them out or Reps).

I don't either, but as long as it is a state or local issue, the people there have to live with the consequences of their chosen leaders. The federal government has no business picking and choosing individual firms to subsidize.

I never believe the numbers on those deals either. Like those that "prove" that if a city builds a new stadium for a pro team, they will get all the money back from sales taxes on increased food and liquor sales around the stadium.

[wisconsin]

Big corporate welfare on this deal, though -- $230k/job between federal and state tax incentives.


Mike, over 30 years time. Average pay estimated to be $54,000 per employee. The state will recoup this in income tax easily, but you fail to see that.

in addition, an estimated 20k support jobs will be created around it, and the plan is to build a town around the facility, creating a whole new tax base.

This is a huge win for Wisconsin and our people.

[_______]

Regarding the tax breaks provided to secure the deal, the way to frame these is to ask how much tax revenue Wisconsin gets if the plant is built in Pennsylvania instead?

The answer to that is why it makes sense for state and local governments to cut these deals. Whatever they net after the giveback is still better than the zero burger they eat otherwise.

It's a giveback of some portion of future revenue that won't exist at all if they don't cut a deal.

I'd do this deal in a second. I think you would too, Mike.

[JustRalph]

Mike, over 30 years time. Average pay estimated to be $54,000 per employee. The state will recoup this in income tax easily, but you fail to see that.

in addition, an estimated 20k support jobs will be created around it, and the plan is to build a town around the facility, creating a whole new tax base.

This is a huge win for Wisconsin and our people.

If Obama had pulled it off we would be hearing how great it is for a month

[jms62]

http://www.msn.com/en-us/money/companies/foxconn-steers-clear-of-trumps-dollar30-billion-investment-claim/ar-AApiQ0a?li=BBmkt5R&ocid=spartanntp

[delayjf]

If Obama had pulled it off we would be hearing how great it is for a month

Obama gave us Solydra which costs the taxpayers hundreds of millions.

[kingfin66]

If Obama had pulled it off we would be hearing how great it is for a month

Especially from you, right? :ThmbUp::)

[davew]

Obama gave us Solydra which costs the taxpayers hundreds of millions.

yes, but 0bama has some friends that he can golf with and stay at their private islands or on their yachts

[classhandicapper]

Regarding the tax breaks provided to secure the deal, the way to frame these is to ask how much tax revenue Wisconsin gets if the plant is built in Pennsylvania instead?

The answer to that is why it makes sense for state and local governments to cut these deals. Whatever they net after the giveback is still better than the zero burger they eat otherwise.

It's a giveback of some portion of future revenue that won't exist at all if they don't cut a deal.

I'd do this deal in a second. I think you would too, Mike.

There is another benefit that became apparent to me when a boatload of my friends were laid off from NYC OTB a few years back. NYC OTB was losing money. So it was closed. Once it was closed, a whole bunch of relatively unemployable people starting collecting unemployment, some went on medicaid, some probably even went on food stamps etc...

I started wondering which way the state was losing more money, before or after the closure.

It's not just what you bring in that counts.

It's also what you don't have to pay out if people have jobs.

[Track Collector]

There is another benefit that became apparent to me when a boatload of my friends were laid off from NYC OTB a few years back. NYC OTB was losing money. So it was closed. Once it was closed, a whole bunch of relatively unemployable people starting collecting unemployment, some went on medicaid, some probably even went on food stamps etc...

I started wondering which way the state was losing more money, before or after the closure.

It's not just what you bring in that counts.

It's also what you don't have to pay out if people have jobs.

When you work you are likely to be more self-reliant than not.

When you receive assistance you are likely to be more dependent than not.

One particular party (they happen to be in control in NY) seeks to create and target dependents as their voting base.

[Saratoga_Mike]

One of the greatest examples of corporate welfare* of all time, and now Foxconn is trying to bring people from China to staff the plant in Wisconsin. See page A1 of today's WSJ.

*Dems and Reps both of guilty of this across the country

[Tom]

Probably the libs have dumbed down our schools so much, all we graduated are idiots anymore. When they are not confused trying to figure out which bathrooms to use.

[ElKabong]

But ....we need workers to fill the open jobs....

[boxcar]

Good news, but I don't like handouts (whether it's Dems giving them out or Reps).

I betcha you think it would be much better to give handouts to the residents of of that fine retirement mecca known as Poop City in downtown Frisco.