On election eve it was revealed that Trump/Scott Walker Foxconn deal would create ten thousand fewer jobs and cost Wisconsin taxpayers up to $1 million per job.
But as the public has become aware of the spiraling costs for these jobs, the Foxconn deal has become something of a political liability for Walker, particularly among voters outside of southeastern Wisconsin. Those costs include taxpayer subsidies to the company totaling more than $4.5 billion, the largest subsidy for a foreign corporation in American history.
Since Wisconsin already exempts manufacturing companies from paying taxes, Foxconn, which generated a hundred and fifty-eight billion dollars in revenue last year, will receive much of this subsidy in direct cash payments from taxpayers. Depending on how many jobs are actually created, taxpayers will be paying between two hundred and twenty thousand dollars and more than a million dollars per job. According to the Legislative Fiscal Bureau, a nonpartisan agency that provides economic analysis to the Wisconsin state legislature, the earliest citizens might see a return on their Foxconn investment is in 2042.
Trump and Scott Walker’s Big Idea For Wisconsin Was To Scam The Taxpayers Out Of Billions
To recap, the cost of the Foxconn project has skyrocketed, taxpayers are getting less than a quarter of the jobs that they were promised, and the tax breaks to Foxconn are coming directly from the taxpayers. Scott Walker allowed Foxconn to rob the people of his state. The Foxconn deal was already unpopular, but this news coming on the eve of the election might be the end of the line for Scott Walker, who was already down in the polls to his Democratic challenger Tony Evers.
Scott Walker was on the verge of being toast. This Foxconn news may just push him into defeat.
Awards and Professional Memberships
Member of the Society of Professional Journalists and The American Political Science Association
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