I have no trouble at all with — in fact, I applaud — bringing manufacturing back to the US. But the deal involved at least $4B in subsidies.
40% (give or take) of the cost of investment in subsidies — is that really a good deal? Makes sports stadiums look cheap.
As long as those subsidies come from the state and not the Federal government, I’m basically OK with that. To clarify, I’m opposed to all subsidies, but the state versus Federal is an important difference.
I have no trouble at all with — in fact, I applaud — bringing manufacturing back to the US. But the deal involved at least $4B in subsidies.
40% (give or take) of the cost of investment in subsidies — is that really a good deal? Makes sports stadiums look cheap.
As long as those subsidies come from the state and not the Federal government, I’m basically OK with that. To clarify, I’m opposed to all subsidies, but the state versus Federal is an important difference.
They want a $200M+ highway subsidy from the Feds too for improving the Interstate system near the new Foxconn plant.
What's misleading, often unintentional, often not, in every article about "subsidies" to companies is that they don't make it clear to the average reader that giving tax credits, which is the vast majority of the Wisconsin deal, doesn't cost the taxpayers anything because the money from the taxes wouldn't exist if the company didn't build there. What we end up with is a vast amount of people that believe the State of Wisconsin has given 4Billion to Foxconn, when the truth is far different. Foregoing taxes from someone is far different from the State of Wisconsin agreeing to spend $140 million to improve the roads around the factory as that is coming out of the State treasury. The articles on subsidies to companies also typically fail to discuss the analysis done by the state that shows the predicted return, e.g., the income tax increases paid by 15K well paid workers, the sales taxes from their expenditures, the money from suppliers that will be invested, taxed, etc., as well as the non-monetary benefits from people having jobs, etc.
This isn't to suggest that it was a good investment,. I haven't analyzed the studies to form an opinion on whether it is a fantastic deal for the State as suggested or not, but reporters could improve the national discourse by presenting these issues with the key background information (links, etc.). Still might devolve into the mindless and senseless tribal verbal warfare, but a lot of us are hoping that the press will have a reawakening of their role.
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This isn't to suggest that it was a good investment,. I haven't analyzed the studies to form an opinion on whether it is a fantastic deal for the State as suggested or not, but reporters could improve the national discourse by presenting these issues with the key background information (links, etc.). Still might devolve into the mindless and senseless tribal verbal warfare, but a lot of us are hoping that the press will have a reawakening of their role.