10/18/17 Now what's the swindle?
It would take 25 years for state taxpayers to see a return ... LFB
Hold him accountable ...
"I did some research looking at their (Foxconn) California plant. Their assemblers are making $9.20 an hour," Representative Chris Sinicki notes at the public hearing on the Foxconn incentives bill. "Is it possible, Mr. Secretary, then, if they already said that they'd be starting at $20 an hour, can we get that in writing in a bill?"
State would recoup Foxconn investment in 25 years, estimate shows ... Molly Beck
Foxconn deal goes from bad to bizarre Even the right-wing group Americans For Prosperity thinks proposed deal is stupid - DAVE CIESLEWICZ AUGUST 8, 2017
Let’s review. Even under Foxconn’s own analysis, depending on how many of the estimated 3,000 to 13,000 are actually created, Wisconsin taxpayers would subsidize each job to the tune of $230,000 to almost $1 million. And these jobs would pay about 31 percent of what it would take a family of four to live a normal middle-class lifestyle. (A family of four needs to earn $131,000 to maintain the equivalent of a 1970’s middle-class lifestyle.) It turns out that hourly workers would only make about $41,600 a year, not the $53,000 in initial reports. Apparently, that higher average amount includes all salaries, even high-paid managers. To add injury to insult, the deal would allow the company to move streams, fill wetlands and pollute water without so much as telling us what they might destroy through an environmental impact statement.
Agency estimates: Foxconn tax credits would max out at $312.4 million per year from 2023 to 2026
Walker's idea of bringing economic development to Wisconsin .... $76M from out of state for the elections ?!
In February 2011, WRN reported ...
Wisconsin’s current deficit at $137MFebruary 8, 2011 ByItemizing the shortfall in the current budget.
The deficit for the state of Wisconsin is $136.7 million for the current biennial budget, according to new figures from the State Budget Office. River Hills Republican Senator Alberta Darling co-chairs the Legislature’s budget committee. “We are looking at a real challenge and the governor has been very clear … we are not going to raise taxes, so this leaves making some really tough decisions based on some really difficult priorities.”
Governor Scott Walker released a breakdown of the numbers, which includes $58.7 million that’s owed to Minnesota for the terminated tax reciprocity agreement, a $153.2 million deficit in Medical Assistance Programs, and $21.7 million deficit in the Department of Corrections.
Today, WSJ, July 26th, 2012
More than $137 million spent in recalls, nearly $81M in Walker race
Candidates, special interest groups and political committees spent more than $137 million on the historic wave of 15 recalls over the last two years, the Wisconsin Democracy Campaign said Wednesday.
Of that amount, nearly $81 million targeted the failed attempt to recall Republican Gov. Scott Walker. It more than doubled the record-setting $37.4 million spent for a statewide office in the 2010 governor's race. And Walker more than tripled his previous spending record, doling out about $36 million leading up to his June 5 recall victory. ...
For all 15 of the recalls in 2011 and 2012, Republican candidates, groups and committees outspent their Democratic opponents $84.5 million to $52.6 million, according to WDC.
And outside special interest groups spent nearly $76 million in the 15 recalls, including $39.8 million by groups that supported the GOP and $36 million by those that backed Democrats.
WI 1848 Forward: #WI Budget $137M Unforeseen Irony: #Deficits vs #Elections 2011-2012 : #wiVote #WiUnion #47%
$9.20/hr - Costs to Taxpayers keep Climbing WI 1848 Forward: #FOXCONN $300M a year giveaway vs $137M #Walker #deficit in 2011