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I found this interesting article on how local governments spend more than the Fed does every year on Housing, Education, or infrastructure on giant tax breaks for large multi billion dollar companies like Amazon. Imagine what we could spend that money on, especially places that don't really have the funds to spend on companies that are already extremely profitable. https://www.theatlantic.com/ideas/ar...llegal/575539/
States / counties/ municupipalities have a choice to engage in competition or not.
No federal law is necessary when the state/ county/ municipality chooses to not buy jobs.
There’s been a buzz about Foxconn in NE Illinois/ SE Wisconsin going back to late 2015.
The Walker Admin/ Wisconsin got taken for a ride. Looks like the state is on the hook for as much as $500,000 per job created. When Walker announced his achievement he misidentified Foxconn as a subsidiary of Sony and said the state offered $10 million in incentives for the opportunity to create thousands of good jobs. He misspoke. It’s billions not millions.
The border between Wisconsin and Illinois is fluid as it relates to jobs. Not all jobs will go to Wisconsin residents. Many of those jobs will be assembly line work. There is a reciprocal tax agreement between the two states. The state where you live is the state that taxes you. Wisconsin has a higher income tax rate.
You get more housing for the $ in most parts of Wisconsin. Property taxes are relatively high in both states.
It is unknown how many green cards Foxconn gets based on their investment.
Walker, flanked by Trump and Ryan, took bows and Wisconsin voters fired Walker.
It sure looks like Amazon used the “open bidding” process to play cities against each other so it could extract more financial incentives from a short list of locations the company was seriously considering for headquarters.
Corporate America is getting all the help it doesn’t need. You and I may not like it. But executives such as Jeff Bezos have no reason to care. They are winning by the rules of a broken game.
This is how it has always worked. I won't change anytime soon. CEO's hate competition and the free market, they are all for subsidies and tax breaks. They say competition is good, but not between corporations, just between workers racing to the bottom.
But people insist the system isn't rigged and you just have to work harder.
Yeah, it's horrifying. And very often the promises (e.g. zillions of new jobs) don't materialize, or the company suddenly reaps the benefits then moves out.
Isn't there an annual governors' meeting? They should all agree to stop.
States / counties/ municupipalities have a choice to engage in competition or not.
No federal law is necessary when the state/ county/ municipality chooses to not buy jobs.
There’s been a buzz about Foxconn in NE Illinois/ SE Wisconsin going back to late 2015.
The Walker Admin/ Wisconsin got taken for a ride. Looks like the state is on the hook for as much as $500,000 per job created. When Walker announced his achievement he misidentified Foxconn as a subsidiary of Sony and said the state offered $10 million in incentives for the opportunity to create thousands of good jobs. He misspoke. It’s billions not millions.
The border between Wisconsin and Illinois is fluid as it relates to jobs. Not all jobs will go to Wisconsin residents. Many of those jobs will be assembly line work. There is a reciprocal tax agreement between the two states. The state where you live is the state that taxes you. Wisconsin has a higher income tax rate.
You get more housing for the $ in most parts of Wisconsin. Property taxes are relatively high in both states.
It is unknown how many green cards Foxconn gets based on their investment.
Walker, flanked by Trump and Ryan, took bows and Wisconsin voters fired Walker.
However, aren't large corporations often more Republican-friendly seeing as how many Republicans are business-minded?
Yeah, it's horrifying. And very often the promises (e.g. zillions of new jobs) don't materialize, or the company suddenly reaps the benefits then moves out.
Isn't there an annual governors' meeting? They should all agree to stop.
Or, in the case of Amazon distribution centers...the jobs are TERRIBLE jobs, and they have horrendous turnover!
We have something like 6 Amazon warehouses out by the airport (CVG), and they are all having trouble keeping employees, they are always hiring, always trying to lure people in to fill out an application...good companies with good jobs, do not have this turnover problem, as employees do not quit on their first day and never come back!
I found this interesting article on how local governments spend more than the Fed does every year on Housing, Education, or infrastructure on giant tax breaks for large multi billion dollar companies like Amazon. Imagine what we could spend that money on, especially places that don't really have the funds to spend on companies that are already extremely profitable. https://www.theatlantic.com/ideas/ar...llegal/575539/
What is the difference between this type of welfare and ordinary individual welfare ?
It all makes sense once one realizes governments are theft and redistribution schemes (in the sense that they steal alot and give back a little, but do so with great fanfare)
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