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Wisconsin Lawmakers Vote to Provide up to $3B in Subsidies to Foxconn.

posted by martyb on Saturday August 19 2017, @11:52PM   Printer-friendly
from the Politics dept.

Whoever writes:

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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  • (Score: 1, Interesting) by Ethanol-fueled on Sunday August 20 2017, @02:07AM (4 children)

    by Ethanol-fueled (2792) on Sunday August 20 2017, @02:07AM (#556563) Homepage

    The joke will be on you when Trump begins trade war with China and assumes American ownership of all assets.

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  • (Score: 0) by Anonymous Coward on Sunday August 20 2017, @02:36AM

    by Anonymous Coward on Sunday August 20 2017, @02:36AM (#556571)

    Stupidly speaking, that is.

  • (Score: 0) by Anonymous Coward on Sunday August 20 2017, @03:40AM

    by Anonymous Coward on Sunday August 20 2017, @03:40AM (#556582)

    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)

    by Anonymous Coward on Sunday August 20 2017, @09:13AM (#556627)

    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

      by driverless (4770) on Sunday August 20 2017, @10:56AM (#556643)

      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.

      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.