@GovWalker and #Trumps Foxconn Deal May Be Worst in American History

[riversedge]

Walker and Trump’s Foxconn Deal May Be Worst in American History

https://ourfuture.org/20170913/walker-and-trumps-foxconn-deal-may-be-worst-in-american-history
September 13, 2017
Robert Kraig


Governor Scott Walker and Donald Trump claim their $3 billion subsidy to Taiwanese electronics giant Foxconn will create thousands of jobs in Wisconsin. But when you dig into the numbers, the Foxconn deal looks like one of the biggest swindles in American history, a scandal waiting to happen.

While it is Governor Walker and not Trump who is really cutting this deal, it sets a dangerous precedent, which could affect every state.

To understand how big the threat is, it is important to understand just how bad the Foxconn deal really is, and to look closely at what they’re proposing. The magnitude of the public expenditure is stunning. It is not really a tax break, but a direct public subsidy of $3 billion dollars.

Bribing big companies to stay or leave, and therefore allowing profitable corporations to exact public resources while shifting costs onto everyone else, is often what passes for economic strategy at the state and local level these days.

But as destructive and self-defeating as the subsidy game is already at the state level, the Foxconn deal shows Trump wants to supersize these giveaways to a national, billion-dollar scale never seen before.

The Foxconn Trap.............

[LakeArenal]

1. Shows us how much 2018 means to the world.

Sometimes politics are not local.. Getting Ryan out is not just a Wisconsin problem..
Getting Walker out will set a new direction for Corporation Politics. We need to remove the deplorables in every state.

[CrispyQ]

2. Who are the takers, again?

[procon]

3. Taxpayers will never recoup the loss of revenues that fund their public services.

$3 billion dollars means a lot of infrastructure work is lost, social services will leave people in need to fall through the cracks... it makes no sense to me.

Our stupid city leaders broker a deal to build an outlet mall, promising taxpayers that shoppers would come from all over So Cal it buy premium brand junk at deep discounts. The built it. No one came. Everyone lost. The project went bankrupt and now the mall has an assortment of shops peddling shoddy crap and a weekend flea market.

[shraby]

4. One of the worst parts of this deal, is taxpayers will be paying from all over the state,

but the only beneficiaries of the deal are Foxconn and the people they will employ.

Everyone else pays through worse roads, less money for municipalities and schools, colleges and hospitals, etc.

[Blue Owl]

5. Foxconn... Let that name sink in a moment...

n/t