Drudge Retort: The Other Side of the News
Sunday, December 31, 2017

The $3 billion incentive package used to lure Foxconn to Wisconsin to build a giant factory was only the beginning. Associated sweeteners have now grown to more than $4 billion -- adding in the cost of local government incentives and various infrastructure projects, like roads and highways, sewer and power lines. ... "It's way too much money and it never seems to stop growing," [Democratic state Rep. Dana] Wachs told CNNMoney this week. "It just keeps on taking from Wisconsin taxpayers. There is a substantial negative reaction to this deal all over the state. I can't go in the grocery store without people stopping me to talk about this issue."

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Welcome to WisKansas.

#1 | Posted by Corky at 2017-12-29 02:24 PM | Reply | Newsworthy 3

Repubs don't understand calculators.

#2 | Posted by ichiro at 2017-12-29 03:05 PM | Reply

I have no problem with a state recruiting employers but it's too pricey.

Even if Foxconn brings in the 13,000 workers I believe Wisconsin is hoping for (3,000 commitment so far) it's still a very expensive price tag to lure that employer.

I can't believe Wisconsin is doing this with the expectation of only 3,000 jobs. My guess is they are betting on the number closer to 10K+ from Foxconn and a lot of residual jobs to accompany it....perhaps closer to 20K jobs paying $50K plus on average.

#3 | Posted by eberly at 2017-12-29 03:16 PM | Reply

I can't believe Wisconsin is doing this with the expectation of only 3,000 jobs.
#3 | POSTED BY EBERLY

What about the last 30 years of Republicanism did you not get?

#4 | Posted by Sycophant at 2017-12-29 03:24 PM | Reply | Funny: 1 | Newsworthy 2

This isn't a trickle down move from what I can see.

#5 | Posted by eberly at 2017-12-29 03:57 PM | Reply

This isn't a trickle down move from what I can see.

#5 | POSTED BY EBERLY AT 2017-12-29 03:57 PM | REPLY |

No its not. Its a directly benefit rich republican donors thing without even pretending it will trickle down. The land being sold is wetlands which had very low value because it couldnt be developed due to environmental regulations but foxconn is exempt from those regulations so they can build on the swamp and the landowner in a county that voted 96% for Trump gets a payday. Then ABC building supply which is run by the billionaire in this wonderful clip

www.youtube.com

gets the building contracts and she gets paid back in spades for the millions she donated to walker during his campaigns

#6 | Posted by hatter5183 at 2017-12-29 05:23 PM | Reply | Newsworthy 3

Oh and just to sweeten the deal even more Walker had to skip our debt service payment, Delay infrastructure projects, and put another $billion on long term debt to balance the budget. He has claimed to not only have a balanced budget but to have a surplus

www.jsonline.com

But if that was true then how does he explain the Wisconsin long term debt rising $3 billion?

I want a republican to explain to me the math where a budget surplus adds to the debt

#7 | Posted by hatter5183 at 2017-12-29 05:36 PM | Reply | Funny: 1 | Newsworthy 2

Gov. Walker keeps saying that 13,000 jobs are going to happen because of this deal. That number he appears to have pulled out of thin air. Foxconn is refusing to say how many jobs it would actually bring. The plant will likely be largely automated. What Foxconn wants is Lake Michigan water.

#8 | Posted by SLBronkowitz at 2017-12-31 02:55 PM | Reply | Newsworthy 3

Foxconn is a bunch of grifters who spotted a mark too tempting to pass by. Scott Walker and the cheese-head rubes will not realize their mistake for a few years, at which point Walker will be out of office and residing in some other state. Florida will be his next home...

#9 | Posted by catdog at 2017-12-31 04:45 PM | Reply | Newsworthy 2

"Forks over" is such a misnomer.

#10 | Posted by MSgt at 2017-12-31 07:06 PM | Reply

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I believe it's "Wississipi."

#11 | Posted by john47 at 2018-01-01 01:50 AM | Reply | Funny: 1

That works out to $1.3 million per job. I guess that's what passes for conservatism these days. They could have picked 3,000 people by lottery, given the a tenth of that much. It would have save billions, had more effect on the economy, and made some Trump voters real happy.

#12 | Posted by SomebodyElse at 2018-01-01 12:09 PM | Reply

"if that was true then how does he explain the Wisconsin long term debt rising $3 billion?"

That ole Republican Math™.

#13 | Posted by Danforth at 2018-01-01 12:16 PM | Reply

#13 | POSTED BY DANFORTH AT 2018-01-01 12:16 PM | FLAG: "The state's package is poised to give the company up to $3 billion in tax credits and breaks."

You do understand what tax credits/breaks are do you not? Additionally, those hired will be paying taxes on their income. Actually this is SOP for any state, or city to attract a company's business such as those that are trying to attract Amazon's distribution centers.

#14 | Posted by MSgt at 2018-01-01 02:29 PM | Reply

"You do understand what tax credits/breaks are do you not? "

I sure do. Preparing taxes for over 400 clients will do that to you.

"those hired will be paying taxes on their income."

And how long will it take to cover that $3 Billion? Show your math, please.

"Actually this is SOP "

Not $3 Billion for 3000 jobs. And not skipping needed payments to grant the largesse.

#15 | Posted by Danforth at 2018-01-01 03:10 PM | Reply | Newsworthy 2

#15 | POSTED BY DANFORTH AT 2018-01-01 03:10 PM | FLAG: Just what has to be 'covered'? This is new money coming into the state once the three billions credits expire, or do you also think the state just added three billion in debt ;) Once again, the new employees will be contributing to the state coffers once they are working as the credits and breaks would not apply to their incomes.

#16 | Posted by MSgt at 2018-01-01 03:35 PM | Reply

Matt the jobs in question average $53k. Wisconsin income tax is 6.27% so that means each job will bring in about $3250/ year if they take no deductions. 3000 jobs times $3250/ year equals about $10 million per year. At that rate it will take about 300 years to break even.

#17 | Posted by hatter5183 at 2018-01-01 06:50 PM | Reply | Newsworthy 1

#15 | POSTED BY DANFORTH AT 2018-01-01 03:10 PM | FLAG: Just what has to be 'covered'? This is new money coming into the state once the three billions credits expire, or do you also think the state just added three billion in debt ;) Once again, the new employees will be contributing to the state coffers once they are working as the credits and breaks would not apply to their incomes.

#16 | POSTED BY MSGT

Unless they leave when the money runs out to move someplace else that offers them tax incentives.

#18 | Posted by Sycophant at 2018-01-02 12:42 PM | Reply | Funny: 1

Or the product they are making is already obsolete before they even build the plant

#19 | Posted by hatter5183 at 2018-01-02 12:48 PM | Reply

Unless they leave when the money runs out to move someplace else that offers them tax incentives.
#18 | POSTED BY SYCOPHANT AT 2018-01-02 12:42 PM | FLAG:

Or the product they are making is already obsolete before they even build the plant
#19 | POSTED BY HATTER5183 AT 2018-01-02 12:48 PM | FLAG:

Liberals, just natural pessimists always seeing the glass as half empty.

#20 | Posted by MSgt at 2018-01-02 04:31 PM | Reply

#16 | POSTED BY MSGT

Unless they leave when the money runs out to move someplace else that offers them tax incentives.

#18 | Posted by Sycophant at 2018-01-02 12:42 PM | Reply

YOW! I felt that scorch all the way over here!@ LOL!

#21 | Posted by john47 at 2018-01-02 05:28 PM | Reply

Unless they leave when the money runs out to move someplace else that offers them tax incentives.
#18 | POSTED BY SYCOPHANT AT 2018-01-02 12:42 PM | FLAG:
Or the product they are making is already obsolete before they even build the plant
#19 | POSTED BY HATTER5183 AT 2018-01-02 12:48 PM | FLAG:
Liberals, just natural pessimists always seeing the glass as half empty.
#20 | POSTED BY MSGT AT 2018-01-02 04:31 PM | REPLY |

Looking at the evidence is not pessimism. LCD screens are not a growth industry. Industry profits are already down to single digit. The math only works if OLED prices stay high for the lifetime of the factory. Odds are in a few years OLED will be just as cheap to make.

One of the few things this plant has going for it is that it shortens the supply chain. In the near future autonomous cargo vehicles will drop transportation costs and make it even less competitive

#22 | Posted by hatter5183 at 2018-01-02 05:31 PM | Reply | Newsworthy 1

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