Monday, November 25, 2019

Study: Foxconn subsidies could smother billions in future WI development

Yet another study lays out the perils of the Walker-Fitzgerald-Vos multi-billion taxpayer soaking for the environmentally-damaging, small-town bulldozing, GOP-serving Foxconn boondoggle:
Study: Wisconsin's Foxconn deal could depress economic activity by "tens of billions of dollars"
Readers of this blog who have followed here 30 months of continual reporting and analysis will not be surprised by yet another independent accounting that shows how blatantly the public has been misled, as the new report notes: 
Using Wisconsin’s Foxconn subsidies as an example, we have shown that under most plausible scenarios, the taxes funding the subsidies will discourage more economic activity than will be encouraged by the subsidies themselves," according to the report. "In short, the net effect of targeted economic development subsidies is likely to be negative."
More, here.

[Updated continuously from June, 2017] This 360-post archive, tracks, explains and provides context for Wisconsin's public awards environmental favors, legal privileges and $4.5 billion in state and local funds to subsidize and assist Taiwan-based Foxconn. 
Call it a Scott Walker - - and failed campaign maneuver - - production.

From NBC Nightly News, 7/21/19

The archive also documents waivers of what been routine judicial and environmental reviews for a promised now- cancelled perhaps back-on-again-but-smaller?? Foxconn factory development that is still in line to receive a massive daily diversion of Lake Michigan water.

No comments: