By Bill Maher
Donald Trump is very, very excited about a new factory Taiwan’s Foxconn is building in Wisconsin. (In Paul Ryan’s district! What a coincidence!)
Here’s what he said back in July:
“To make such an incredible investment, Chairman Gou put his faith and confidence in the future of the American economy. In other words, if I didn’t get elected, he definitely would not be spending $10 billion!”
Another factor that may have influenced Foxconn, besides their love for Dear Leader? Wisconsin is offering up $3 billion in subsidies. The Chicago Tribune says that amounts to the largest state tax break to a foreign corporation in U.S. history and that the latest version of the bill “waives environmental regulations that will allow Foxconn to build in wetland and waterways and construct its 20-million-square-foot campus without first doing an environmental impact statement.”
According to USA Today, the plant could employ up to 13,000 people, but will “initially employ 3,000 workers making an average of $53,900.” Of course, those jobs create more jobs. Foxconn workers tend to kill themselves; we’ll need to hire someone to mop that up, but even “(a)t $3 billion for 13,000 jobs, the Wisconsin deal would cost $231,000 per job. The subsidies would total more than the combined yearly state funding used to operate the University of Wisconsin System and the state's prison system.”
Not to worry, the nonpartisan Legislative Fiscal Bureau says the state will recoup the money in, let’s see, carry the four…at least 25 years.
So the taxpayers are ponying up billions to put a factory in the home district of the Speaker of the House. That’s one way to run a government, but you wouldn’t call it “draining the swamp.”