BREAKING POLL: Voters Overwhelmingly Oppose Rollback of Environmental Protections for Foxconn;

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River Alliance of WI? @riveralliance

BREAKING POLL: Voters Overwhelmingly Oppose Rollback of Environmental Protections for Foxconn;
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STUDY: Trump and Walker’s huge Foxconn giveaway will cost a whole generation of Wisconsin taxpayers
https://thinkprogress.org/scott-walkers-massive-foxconn-giveaway-wont-pay-off-for-wisconsin-taxpayers-until-at-least-2042-3ccfbcab3871/

That's the best case scenario.
Aaron Rupar
Aug 9, 2017, 4:12 pm




In a study released on Tuesday, the nonpartisan Wisconsin Legislative Fiscal Bureau concluded that the $3 billion taxpayer giveaway Gov. Scott Walker (R) and President Trump want to give to Foxconn in exchange for an LCD manufacturing plant in the southeastern part of the state wouldn’t be paid back for at least 25 years.

“[A]ny cash-flow analysis that covers a period of nearly 30 years must be considered highly speculative, especially for a manufacturing facility and equipment that may have a limited useful life,” the study notes. In other words, by the time the plant would theoretically pay off for taxpayers, it may be no longer be operational. No one knows if there will even be a need for these kind of LCD screens 25 years from now.

But even in the best-case scenario where the plant creates 13,000 jobs filled almost entirely by residents of Wisconsin — the study notes that “it is assumed that 10 percent of the projected new jobs will be filled by Illinois residents,” but because the plant might be built near the Illinois border, that percentage could be higher — the billions of dollars in tax credits the Taiwanese company would receive for payroll and capital expenditures wouldn’t be paid back until about 2042.
CREDIT: AP Photo/Alex Brandon
Every citizen of Wisconsin is paying $519 so Trump could have this press conference

The president is taking credit for a massive taxpayer giveaway to Foxconn.

The following “break-even analysis” table is taken directly from the fiscal bureau’s study. It indicates the massive giveaway Republican lawmakers want to provide Foxconn would cause the state to lose money each year until 2033, with another decade passing before the incentives are paid back in full.

If the best-case scenario doesn’t come to fruition because the plant creates less than 13,000 jobs or more than 10 percent of the positions are filled by residents of neighboring Illinois, “the break-even point would be well past 2044-45,” the study notes.

Despite the hefty toll the deal would take on Wisconsin’s budget, Walker continues to tout it. In an op-ed published last Friday by the Milwaukee Journal-Sentinel, he asserted that a plant in which LCD panels are made “will have a transformational effect for generations to come in much the same way Silicon Valley transformed the San Francisco Bay Area and the Research Triangle transformed North Carolina. We’re calling it ‘Wisconn Valley.'”..................................




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[SWBTATTReg]

1. a joke, Wisconsin, don't fall for Paul Ryan's, S. Walker's/Foxconn claims in future needs for plant

Take it from an expert in analyzing new technologies coming online for over 30 years...

I've been involved during my whole ATT career investigating new technologies so we could plan what to implement/plan for. Never really worked in full for several reasons...main one was phone company didn't allocate billions of dollars required to address issues ID'ed in analysis of upcoming technologies...also,
technology changed and / or expired so fast, couldn't keep up w/ it.

I guarantee this that Paul Ryan/S. Walker/Foxconn are jokes who think they can sniff and analyze technical developments and requirements for technologies decades down the road.

Take it from a former expert who constantly analyzed thousands of periodicals, etc., constantly to monitor ongoing technical developments...NO WAY.

REPEAT, NO WAY.

Even ATT, with loads of experts and tons of money, could never analyze accurately the impact of new technologies, although, we tried.