Aug/08
2017

Behind Every tRump Deal

Is a steaming cesspool of reality.

MADISON, Wis. (AP) -- It would take at least 25 years for Wisconsin taxpayers to break even on Gov. Scott Walker's incentives to lure Taiwanese electronics giant Foxconn to the state, according to a fiscal analysis released Tuesday.

Dickhead was pretty quick to celebrate "his" role in bringing jobs back the US. Only the "deal" is a one-sided suckfest for the state who "won".

The nonpartisan Legislative Fiscal Bureau's analysis of the bill found that Walker's administration found the cost of the tax credits would exceed potential increased tax revenues by $1.04 billion at the end of fiscal year 2032-33. After that year, payments to Foxconn would end and increased tax collections would ring in at about $115 million annually. At that rate, the break-even point would come during the 2042-43 fiscal year.

The break-even point could come even later, though.

So really, for 3k new jobs the state winds up overcommitting and digging itself a hole to the tune of over a billion. If, of course, Foxconn bails before the break even period the state is extra-extra fucked with a side of 3000 new names on their unemployment rolls.

Yes this is the "art of the deal" folks: take a steaming pile of crap, put it in a box, spray paint it gold, celebrate yourself as being awesome and then run away. Because it's not your problem any more.

No feedback yet