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The lawmakers in Wisconsin voted in favor of an incentives package worth up to $3B for Foxconn. The total value of the package depends on the number of jobs that Foxconn creates in the state, so, effectively, the state is paying about $500,000 for each new job.
Most of the incentive is in the form of cash payments from the state to Foxconn, not just tax waivers. The cost to the residents of the state is about $1,200 per household.
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Wisconsin Lawmakers Vote to Provide up to $3B in Subsidies to Foxconn.
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QOTD:
"My life is a soap opera, but who gets the movie rights?"
(Score: 5, Informative) by Grishnakh on Sunday August 20 2017, @12:36AM (10 children)
On behalf of the Foxconn stockholders, I'd like to thank the generous people of Wisconsin for volunteering to give them $3 billion out of their taxes, even if this means raising their income tax rates. This will work out very well for the Foxconn stockholders, and also for those of us in the other 49 states who might buy products made there by Foxconn. It's going to be a sacrifice for the people of Wisconsin, but that's OK. They did the smart thing by electing Republicans, so they can make sure that instead of having high taxes to pay for social programs, their high taxes can instead help out corporate stockholders, which is a far more worthy pursuit.
(Score: 1, Interesting) by Ethanol-fueled on Sunday August 20 2017, @02:07AM (4 children)
The joke will be on you when Trump begins trade war with China and assumes American ownership of all assets.
(Score: 0) by Anonymous Coward on Sunday August 20 2017, @02:36AM
Stupidly speaking, that is.
(Score: 0) by Anonymous Coward on Sunday August 20 2017, @03:40AM
Ah, the same thing that led to the South China Sea Standoff in my timeline after President Clinton enacted TPP/TTIP/TISA.
(Score: 0) by Anonymous Coward on Sunday August 20 2017, @09:13AM (1 child)
The joke will be on you when China will respond in kind and assume ownership of all American plants while also pulling out of the copyright treaties and duplicating anything of value the US is producing.
More specifically to the actual plant, the US is failing to compete against China in heavy silicone and electronics assembly because of the higher wages in the US that are attributed to the higher cost of living. Building - or appropriating - plants from the Chinese won't change this. The Chinese will still make cheaper phones and PCs. And the world will continue buying those cheap consumer electronics over the expensive US products.
(Score: 2) by driverless on Sunday August 20 2017, @10:56AM
Or threaten to crash the US dollar by dumping their T-bills. That's what the US did to the UK in 1956, no reason why it wouldn't work again.
(Score: 5, Insightful) by Anonymous Coward on Sunday August 20 2017, @04:10AM (1 child)
We can't afford single payer health care, but we can afford corporate welfare, completely unnecessary military interventions in 7 countries, mass surveillance on the populace, etc. But there's no way the richest country on the planet could pull off single payer.
(Score: 2) by MostCynical on Sunday August 20 2017, @05:32AM
No, that's socialism (tm)
"I guess once you start doubting, there's no end to it." -Batou, Ghost in the Shell: Stand Alone Complex
(Score: 2) by tibman on Sunday August 20 2017, @04:53AM (2 children)
They seem to be about half democrat and half republican. Looks like 5 Republican and 3 Democrat congressmen right now. 1 Republican senator and 1 Democrat senator. Trump won over Hillary but only by ~23,000 votes. That's damn close.
I agree that paying Foxconn is stupid. But saying it's because they elected ONLY republicans is wrong.
SN won't survive on lurkers alone. Write comments.
(Score: 5, Informative) by tonyPick on Sunday August 20 2017, @09:18AM (1 child)
From TFA
(Score: 0) by Anonymous Coward on Sunday August 20 2017, @02:33PM
See? Both sides are responsible. Just like all sides are responsible for the violence at protests!!!!111!1
Oh gawd MAGA! MAGA! TRUMP 2020!!!!11111!!11