4 ms·
This hits home as a Wisconsin resident. Best case scenario, we're looking at 2042 to turn a profit[1]. [1] http://docs.legis.wisconsin.gov/misc/lfb/bill_summar
by MattSteelblade 9y ago
This hits home as a Wisconsin resident. Best case scenario, we're looking at 2042 to turn a profit[1].
[1] http://docs.legis.wisconsin.gov/misc/lfb/bill_summaries/2017_19/0001_ss_ab_1_foxconn_fiserv_legislation_8_8_17.pdf http://docs.legis.wisconsin.gov/misc/lfb/bill_summaries/2017...
- gtCameron 9y agoWhat year would Wisconsin turn a profit off of Foxconn if it didn’t build a factory there at all?
- throwaway2048 9y agoThis is very much a prisoner's dilemma race to the bottom situation. What if nobody was willing to pander to foxconn at all? How much tax would they be paying then?
- deleted 9y ago[deleted]
- wavefunction 9y agoPresumably this year, if they paid each person as outlined above because they'd be getting income tax back from the individuals. They could even pay those people $30,000 a year for ten years to work on civic projects and achieve even more 'profit' or return on investment.
- esmi 9y agoI am confused. Who is "they" in these sentences: Foxconn, WI, or an employer other than Foxconn? It can't be Foxconn because the parent statement requires Foxconn doesn't come to WI. WI getting back in tax a portion of what they paid out in full can't be a net income gain because the employee gets to keep some. If it's an employer other than Foxconn, which doesn't get any deal, then I agree that would be best for WI. But which employer is that?
- dahdum 9y agoMaybe I'm reading that wrong, but it's not an actual loss at any point is it? The refundable tax credits just pay back what the state collected, which isn't really a "loss".
- MattSteelblade 9y agoIt's a combination of cash payments and tax exemptions. http://www.jsonline.com/story/news/politics/2017/08/16/how-would-wisconsin-foxconn-deal-work-here-some-answers/572186001/ http://www.jsonline.com/story/news/politics/2017/08/16/how-w...
- dahdum 9y agoBut the cash is a refund of employee payroll taxes and other benefits derived from Foxconn's investment isn't it? It's a sweet deal for Foxconn but I still don't see where the rest of the state actually pays out. I could be reading it wrong of course, but that was the impression of the EITM zone I had.
- deleted 9y ago[deleted]
- r00fus 9y agoBy then Foxconn would almost certainly have moved on.