In 2017, Trump and then-Wisconsin Governor (and Koch darling) Scott Walker announced that they would give Chinese manufacturing giant $3B in taxpayer subsidies to open the only flat panel display factory in the western hemisphere (the figure quickly grew to $4.1B), despite the company’s long, documented history of lying to governments, sucking up subsidies, and never delivering the promised facilities or jobs.
Continue reading “Wisconsin commissioned an independent report on how to fix the Foxconn deal. Result: it can’t be done.”
Tag: corporate welfare
US tax shortfalls have our public schools begging for donations
Between Trump’s massive tax-breaks for the super-rich and rules like California’s disastrous Prop 13, our cities perennially cash-starved and have led to the erosion of the same public services that make cities attractive to businesses (for example, the subway, public education, roads, grid and other public services that made NYC so attractive to tax-dodging Amazon for its second headquarters).
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New York’s corporate welfare for Amazon enrages the Koch Brothers, Bernie Sanders, Tucker Carlson, Alexandria Ocasio-Cortez, etc…
Amazon’s new headquarters will be split between northern Virginia and parts of Queens, New York, and will net the company billions in corporate welfare, branded as “incentives.”
Continue reading “New York’s corporate welfare for Amazon enrages the Koch Brothers, Bernie Sanders, Tucker Carlson, Alexandria Ocasio-Cortez, etc…”
As Wisconsin’s corporate welfare to Foxconn keeps rising, the number of jobs to be created keeps falling
When Wisconsin governor Scott Walker announced a $3 billion corporate welfare plan for a new Foxconn plant in his state, Foxconn watchers warned that the company had a long history of breaking its new factory promises after sucking up billions in taxpayer dollars.
Continue reading “As Wisconsin’s corporate welfare to Foxconn keeps rising, the number of jobs to be created keeps falling”
Seattle can’t afford to fund arts, housing or tourism, but it can find $135 million to repair the Mariners stadium
King County Council was ambushed by a series of surprise amendments to its meeting on Monday that resulted in $135,000,000 being diverted from hotel lodging tax funds earmarked for affordable housing, arts, and tourism boosting, to effect repairs to the Mariners stadium, despite the team being valued at nearly $1.5 billion.
Continue reading “Seattle can’t afford to fund arts, housing or tourism, but it can find $135 million to repair the Mariners stadium”
Amazon’s cloud business leads American companies in shifting its electric cost to taxpayers
Whether it’s paying for burying dedicated power-lines for data-centers, winning below-cost sweetheart deals on electricity rates, or securing tax-breaks and incentives to set up shop, Amazon Web Services has proven time and again that it is the nation’s best cost-shifter, enjoying billions in tax-funded gifts for operating data centers that employ almost no one and whose profits go straight to distant shareholders.
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Foxconn’s corporate welfare deal will cost Wisconsin taxpayers more than 3 billion dollars
The recent trumpist trumpeting about the plans of Chinese manufacturer Foxconn to open a manufacturing facility in Wisconsin omitted a few key details — like the fact that Foxconn is being given a sweetheart tax-break that’s topped up with 15 years’ worth of guarantees of up to $200m/year in cash subsidies at taxpayer expense — a record-setting taxpayer subsidy that exceeds the previous Wisconsin record-holder by a factor of fifty.
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Bernie Sanders: Trump just used your taxes to reward Carrier for offshoring American jobs
Last February, Carrier announced that it was offshoring its US air-conditioner manufacturing jobs to Mexico, despite having made a $7.6B profit that year, despite having received more than $6B in US military contracts, despite having recved a $50M tax-break, despite having paid its retiring CEO a $172m bonus, despite having spent $12b on stock-inflating accounting tricks.
Continue reading “Bernie Sanders: Trump just used your taxes to reward Carrier for offshoring American jobs”