DAILY WISCONSIN

State Capitalism

‘Every paragraph revealed another strange twist or failure’

As it turns out, history had already determined that state handouts to attract and keep businesses was a horrible idea, so bad in fact many states amended their Constitutions to prevent those mistakes from ever happening again in the future.

After reading the Cap Times article “Where to now with Foxconn? It won’t leave Wisconsin, but it won’t build what it promised,” where every paragraph revealed another strange twist or failure, I had to look up why Scott Walker and his band of plundering Republicans pirates liked the idea of state corporate handouts so much. Not surprisingly, their actions weren’t based on anything I found in the real world, it was simply pure ideological theory. Look at how much money we’re losing, and how few jobs they’re creating…

Via DemoCurmudgeon: History, Corporate Tax Incentives, and the State Constitutional Gift Clause collide with Scott Walker’s economic theories.

Walker Foxconn Folly

They say there’s no such thing as bad publicity.

Here’s the counter-argument today, first in a long, must-read piece carried by the Madison Capital Times which, among other things, looks at the risks facing Racine County and the Village of Mount Pleasant where Foxconn bulldozing and local borrowing are well underway:

Based on an examination of Foxconn’s corporate history, Asian business practices and the stark realities of the LCD panel production industry, the likelihood of a flat panel factory in Mount Pleasant seems unlikely any time soon — if ever.

Neither does the prospect of anything close to 13,000 “family supporting” jobs…

For Racine County, the situation is more pressing… The total county cost was recently projected at $911 million, a liability of more than $10,000 per county household…

Via The Political Environment: Grim new reviews for Walker Foxconn folly billed to taxpayers

Shrinking in reality

Just to remind you on how much of a COMPLETE SUCKER you have to,be to think that Foxconn will ever create anything close to 13,000 jobs, let me show you yesterday’s John Oliver segment on the automation of jobs. Something Foxconn proudly proclaims to be a “world leader” on.

As Oliver’s piece notes, historically jobs that have been automated out of existence get replaced by new technologies, generally in more knowledge-based industries. Except that Foxconn’s big pre-election promises on new “innovation centers” outside of Racine County don’t seem to be working out either.

Via Jake’s Wisconsin Funhouse: Foxconn keeps talking big, but keeps shrinking in reality

Taxpayer Expense

According to this celebratory article, tender readers are led to believe various levels of government pitched a combined total of $9 million of the $100+ million projected price tag when in truth, private funding totals only $11.5 million of the $50 million raised so far leaving public sources i.e., federal, state and local taxpayers, pledging the difference of roughly 77% (give or take a few points) of the venture capital raised at this juncture.

Via Rock Netroots: As Government Shines In New Industry, Paul Ryan Shows Up.

Walker Admin Unresponsive on WEDC Question

The State Journal asked the Walker and Burke campaigns to explain in detail what kind of policy WEDC should adopt to ensure taxpayers aren’t subsidizing outsourcing. Burke spokesman Joe Zepecki referred to Burke’s statement earlier this month: “As governor, I will insist that every WEDC award protects against the outsourcing of Wisconsin jobs and companies…

State released hundreds of thousands of trout afflicted with virus

“It’s a big unknown,” said Susan Marcquenski, a fish health specialist for the state Department of Natural Resources. “There’s very little information about the effect of the virus on cool-water species.” Despite the uncertainty, state authorities confirm that they released 270,000 brown trout this year from hatcheries where fish tested positive for the cutthroat trout…