The world's largest electronics contract manufacturer has established a new headquarters in the United States. The Taiwan based Foxconn is known for being the manufacturer of iPhones as well as other leading electronics products.
Foxconn has previously already announced a new display factory in Wisconsin, Reuters reports. Now the company has revealed its new North American HQ in Milwaukee, ... [ read the full article ]
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Gov. Scott Walker sold out his state's residents to the tune of 3 billion to land this factory. That's 3 billion less money that could've been used for social services and state infrastructure programs but the residents of Wisconsin keep voting for this asshole.
Originally posted by ivymike: Gov. Scott Walker sold out his state's residents to the tune of 3 billion to land this factory. That's 3 billion less money that could've been used for social services and state infrastructure programs but the residents of Wisconsin keep voting for this asshole.
Wait, wait, wait, wait, wait. The article says "tax breaks" are being provided to Foxconn over 15 years. A tax incentive is not the same thing as stealing money from your "residents" as you imply. A large business like that provides valuable jobs to the people and bring money in to the state, ultimately from the sale of all the hardware and iPhone parts the company produces. I don't think anyone was "sold out" here. I'd say the people that voted him in must believe he understands how to stimulate the economy and bring in jobs. And since Foxconn is actually "saving" 3 billion over 15 years by locating in WI, which is only a percentage of their tax burden, imagine how much tax money will actually be available for your precious "social services and state infrastructure programs."
Originally posted by ivymike: Gov. Scott Walker sold out his state's residents to the tune of 3 billion to land this factory. That's 3 billion less money that could've been used for social services and state infrastructure programs but the residents of Wisconsin keep voting for this asshole.
Wait, wait, wait, wait, wait. The article says "tax breaks" are being provided to Foxconn over 15 years. A tax incentive is not the same thing as stealing money from your "residents" as you imply. A large business like that provides valuable jobs to the people and bring money in to the state, ultimately from the sale of all the hardware and iPhone parts the company produces. I don't think anyone was "sold out" here. I'd say the people that voted him in must believe he understands how to stimulate the economy and bring in jobs. And since Foxconn is actually "saving" 3 billion over 15 years by locating in WI, which is only a percentage of their tax burden, imagine how much tax money will actually be available for your precious "social services and state infrastructure programs."
Look how companies like Apple and Microsoft hide their money...I'd be pretty surprised if Foxconn pays a single cent in taxes in the next 15 years...and then they will either get a renewal or move somewhere else for a similar deal. As for the jobs...well, 13,000 are low-pay manufacturing, and the new HQ only holds 500...that includes Taiwan residents working there.
As for Mr Walker, he was elected mainly because he is a hard-line republican in a state that is all red except for two cities. He de-funded planned parenthood and decreased school and social program funding too...so don't have a baby in Wisconsin (and also don't not have a baby in Wisconsin?) Every time the senate makes a pro-gun bill he holds a big press conference to show him signing it into law...nevermind that these bills would pass even if he tried to veto them. However you feel about guns, it's clear he wants all the credit for what he hasn't actually done in that area. He's also against LGBT rights and labor unions. As for economic policies...well, his biggest supporter is CATO...and they only gave him a B. Oh...and he's also been involved in several investigations into illegal campaign finance issues, I'm sure that has nothing to do with giving a foreign company $3,000,000,000 in tax breaks. He's in office because he's a republican in a republican state, end of story.
So... you'd prefer zero additional jobs, which give people zero dollars of income and bring in zero dollars in tax revenue via income taxes, sales taxes, even fuel taxes by said 13,000 workers and those at the headquarters, over the alternative? (Which is likely a drop in the bucket for such a massive corporation!)
Also, a quick Google search would show that Apple is the largest taxpayer in the world, paying out $35 billion worldwide over the last three years.
I highly doubt that Apple pays any federal income tax. Apple may pay state property & state income tax but it is a proven fact that large companies like Apple & GE pay ZERO in federal income tax because they exploit all the known tax loopholes. Democrats have tried to close these tax loopholes but have not succeeded against republican opposition and corporate lobbying.
