Walker & Trump Foxconn deal: Maybe worst in American History

Source: Our Future
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.” (09/13/17)