The deal with Foxconn did not create jobs, it paid for the jobs.
These may be FAKE JOBS!
As many as 13,000 jobs for a $3billion tax break?
Foxconn invests $10billion to build a big plant to manufacture LCD screens.Tweety brokered a deal for jobs on the backs of American tax payers with Taiwanese manufacturing Foxconn.
Deceitful. Fool me once, it's on you, fool me twice, it's on me.
"Foxconn’s $3 Billion Tax-Break Deal Is A Loss For Smart Jobs Policies"
The biggest jobs deal yet to be announced during the Trump administration exemplifies everything that’s wrong with our nation’s economic development system.
By Greg LeRoy, 7/29/17
"The biggest jobs deal yet to be announced during the new presidential administration exemplifies everything that’s wrong with our nation’s economic development system.
The tone was giddy as President Donald Trump himself headlined a July 26 White House event to announce that Taiwanese electronics maker Foxconn will build a large new plant in southeastern Wisconsin. Warming up the crowd were Foxconn chairman Terry Gou, Wisconsin Gov. Scott Walker, and House Speaker Paul Ryan, in whose Congressional District the plant will likely reside."
Pork Barrel politics, misguided as usual. Bribes, plain and simple.
"Even if the project creates all 13,000 jobs the politicians said it potentially could–and I find that absolutely not credible given how automated high-tech manufacturing has become–that means a cost of more than $230,000 per job."
"
At that price, the deal is a sure loser for Wisconsin taxpayers. That’s because there is no way the typical Foxconn worker will pay $230,000 more in state and local taxes than she and her family will consume in public services over her work time there. At that price, the deal can only be accurately described as a transfer of wealth from Wisconsin taxpayers to Foxconn shareholders.
Besides high costs, benefits are likely to be lower than Walker’s press package suggest. Badgers won’t get all of the jobs: Like any high-tech company newly arriving in a labor market without the right executive talent pool, Foxconn will need to import managers and engineers from outside the state–and probably many of those from outside the United States–since there is no existing liquid-crystal display factory outside Asia."
More. Which state will give the biggest tax breaks?
"Foxconn reportedly pitted several states against each other for the deal, with the blessing of the White House. Indeed, in his speech at Carrier in Indianapolis last December, Trump endorsed the “race to the bottom” system that allows corporate site location hunters to extract the largest tax-break packages possible.
It’s a tragic waste of the president’s bully pulpit on jobs. Instead of using his “America First” frame to promote cooperation among the states, he is blessing the “second war among the states,” as Business Week dubbed it 41 years ago."
"Buffalo hunting" for jobs, state by state, for a promise of future jobs that may never materialize, just like repeal and replace . . . . Tweety is a magician folks, and he is getting away with fooling America every day.
"President Trump is also sending exactly the wrong message about how America’s job-creation machine can best be reignited. Only weeks ago, he proposed a budget that would entirely eliminate programs such as the Manufacturing Extension Partnership, a longstanding and successful program with bipartisan support that helps small- and medium-size manufacturers adopt to new technology. He also proposed huge cuts to other economic, community, and workforce development programs that benefit employers everywhere.
Now, instead, by fronting an event for one huge deal that may never materialize (Foxconn has already failed to deliver in Pennsylvania and on some big overseas projects as well) Trump is personally blessing the “buffalo hunting” school of economic development, in which a few companies get huge “megadeals” while programs that benefit many employers suffer budget cuts, and small businesses and entrepreneurs get shortchanged."
Race to the bottom by Tweety will NOT make America Great Again.
"Economic development in America remains a hyper-politicized subject, with the number of new deals still less than half of what they were–in 1999. That’s why Trump’s campaign emphasis on jobs resonated so well. It also means that state and local politicians are more prone to over-spending, because they feel they must look aggressive on jobs. Short supply plus heightened demand: That’s why we’ve seen a spike in nine- and ten-figure subsidy “megadeals” like Foxconn since 2008.
That’s the tragedy of Trump’s leadership failure. Stooping to the parochial role of a governor or mayor, he has failed to appreciate that as president, and with national unemployment at 4.4%, he could disrupt the “race to the bottom” and put buffalo hunting in a museum where it belongs."
Greg LeRoy is executive director of Good Jobs First and author of "The Great American Jobs Scam"
"Foxconn invests in Wisconsin: Workers 'should be wary'"
by James Griffiths @CNNMoney July 27, 2017: 7:55 AM ET
http://money.cnn.com/2017/07/27/technology/business/foxconn-china-us-wisconsin-workers/index.html
""American workers should be wary," said Eli Friedman, associate professor of international and comparative labor at Cornell University, adding that Foxconn had a history of getting "headlines that rarely match the reality."He pointed to an announcement in 2013 by Foxconn of plans to build a $30 million plant in Pennsylvania that have so far not come to fruition.
Foxconn told CNN that its interest in Pennsylvania remains strong, but the state government has not yet been able to commit to the level of support necessary to make the project "economically viable."
The Wisconsin factory, meanwhile, will create 3,000 jobs with the potential to grow to 13,000, Foxconn added. The state's governor said it should be completed by 2020."
