DawnODay
Literotica Guru
- Joined
- Dec 19, 2015
- Posts
- 3,120
Wisconsin remains a high tax-load state. Gov Walker owns that.
After eight years, there is some truth to that. Although remember, he turned the >$3billion deficit he inherited from his predecessor into a surplus for every budget since he came to office. Fortunately, the odds are he will win another four years to continue to cut our taxes.
Foxconn has played loose with state money before. Y'all beware.
So I've heard. Fortunately, the contract between the state and Foxconn includes provisions that the development must reach certain benchmarks before the company gets any of the tax breaks. It also includes a half-billion dollar liquidated damages provision if Foxconn backs out. Further, the fact that Foxconn is buying an entire city block in Milwaukee for its American HQ suggests it plans to stay here.
How much in subsidies will each Foxconn job cost really taxpayers?
In effect, less than nothing. First, remember that Foxconn would not even be coming except for the favorable tax treatment it's receiving. Thus, the fact that it is paying reduced taxes (the true nature of the "subsidies") still means Wisconsin is receiving increased revenues versus what would have happened had it not offered these incentives. Second, the benchmarks mentioned above ensure that the state will have gained more in revenues from overall economic activity (e.g., building the plant itself is expected to create more than 10,000 construction jobs) than it "looses" in Foxconn tax subsidies by the time those subsidies go into effect.
Which Wisconsin officials are personally profiting from the deal?
Always an important question. I suppose it depends on what you mean by "profiting." As for "profiting" politically, the only Democrats in the legislature to vote in favor of the Foxconn development are those from districts in SE Wisconsin. They knew its creation of thousands of jobs in the area would be popular with their voters. (Conversely, many analysts think the recent Republican loss in NW Wisconsin was backlash against Foxconn, because it primarily benefits the other end of the state.) It would also be interesting to know how much Foxconn has and will contributed to various campaigns in this election cycle.
If by "personally profiting" you mean actual graft, this isn't Illinois. Wisconsin is quite clean in that area. Money tends to flow into campaign coffers, not offshore bank accounts.
Maybe you want to close the thread, but I don't believe everybody does.
Did you look at the link you posted? The median Household income for Racine County is $56,359. For many of the households, that consists of two paychecks. The median Per Capita income is $28,436. That means the new jobs will pay almost twice as much as the current jobs in the county.
dan_c00000 "closed" the thread because he knew I had crushed him factually and rhetorically, and he is such an insecure bigot that he cannot accept defeat at the hands of a woman. But don'y worry. He still reads all my threads. He can't help himself.
(Do you think he has the "hots" for me?)