Is Foxconn worth it?
How much is $4,500,000,000? Mere mortals like us have no idea how much money it is we’re giving to Foxconn. Many of us have a hard time getting our minds around a million dollars.
If we were to split up the $4.5 billion we are offering (bribing) Foxconn with into $4.5 million packages to offer as incentives to act as startup money, we could be making 1,000 grants of that amount.
To break it down a differently, if we were to make it into $1 million grants, we could make 4,500 grants to use for money to start up new businesses. If each new business were to employ three people, that would create 13,500 jobs. That’s more jobs than Foxconn is promising.
And these jobs would be created all over the state, not just in the southeast corner of the state.
Another benefit of doing it this way is there would be no period for which we would have to grant forgiveness in paying taxes. We would expect these companies to pay property and income taxes immediately.
And, we would not have to make the concession to each of these companies that they would be exempt from meeting the environmental criteria that all of us need to heed. If we want to do something — like drain the swamp or pollute the creek on our property — we need to get a permit from the DNR, which it would be unlikely to grant.
Now when you think about all these concerns of giving such a large amount of money to one foreign entity, just remember this is the darling of the Republican Party of which Gov. Scott Walker is the champion. And our own representative to the Assembly, Romaine Quinn, is right in there pitching with the rest of them.
Get out and vote when the November election gets here.