Sunday, July 29, 2018

Crony Capitalism

Scott Walker and Republicans keep cheerleading their Foxconn con.  Chris Kapenga (WI - State Senator) was just on Up Front With Mike Gousha talking up what a great investment Foxconn is for Wisconsin. 

The "deal" is $4.8 billions dollars for 3,000 jobs with the potential of 13,000 jobs.  For 3,000 jobs, that's $1.6 million per job.  Or another way, a 30-year career, making roughly $53,000 per year.

If Wisconsin simply employed workers, for $4.8 billion, it could provide a 30-year career, $50,000 per year job, for 3,200 people.

At the end of the day, if it's taxpayers' dollars we're spending, shouldn't we keep the decision-making capabilities in the hands of Wisconsin taxpayers?  Why provide such lavish subsidies to a private company when the economics clearly show that a public entity could create jobs for much less?

Rather than providing corporate welfare to a billion-dollar "modern" company, modernize our public transportation; green our public buildings; and upgrade our water, sewer and electrical systems.  This creates jobs short- and long-term.  It also improves the entire state's economic competitiveness.  This is what attracts residents, retains and grows business, moves products and people, and ultimately leads to a higher quality of life.

If we're going to be spending billions and the pay-off of 3,000 is worth the cost...then why not just create 3,000 state jobs - of engineers, construction workers, scientists, builders, etc. - for the job of taking care of and improving our state and our public assets?

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