Foxconn taxpayer projections zoom, payroll benefits plunge
More 'accurate' figures released today about the Foxconn deal blow past the $200 million annually we were all focused on (the more honest and also more harmful-to-Walker data coming after the insultingly-one-sided public hearing last week in the Assembly) - - including a projected $100 million less in annual Foxconn wages than what's been hyped - - show how phony were the numbers in Walker's election-dependent rush to give away the store:
the state's payments to fulfill the incentive package would reach their peak by Fiscal 2023, when the state will be sending [Foxconn] $193.6 million in income tax credits and $192.9 million in capital expenditure credits...
...annual payroll for the proposed campus would [be]...nearly $100 million less than what Department of Administration Secretary Scott Neitzel estimated at the bill hearing last week.
State and local governments also would lose nearly $50 million in sales tax revenue...As I said on Facebook a few minutes ago:
I don't mean to be flip about it, but this is what my buying and financing a limited edition Lamborghini to garage at my Beverly Hills mansion would do to my finances.And remember that in a post yesterday, I gave plenty of reasons not to trust what Walker was saying about Foxconn:
But if trusting Walker is central to this debate... Note also that Walker's cumulative PolitiFact scoring shows the "False" and "Pants on Fire" ratings, taken together, total more twice the number of his statements rated "True."
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