Sunday, 30 July 2017

Foxconn could get up to $200 million in cash a year from state residents for up to 15 years

quote [ "There's a whole lot of people out there scrambling to try and come up with a reason not to like this," Walker said in Eau Claire, according to Wisconsin Public Radio. "That's fine, but I think they can go suck lemons." ]

Cost to tax payers is $15k per hired employee, assuming all 13,000 employees are hired. Foxconn also receives multiple environmental exceptions. What could go wrong?
[SFW] [business] [+4]
[by satanspenis666@3:33amGMT]


steele said[1] @ 3:43am GMT on 30th Jul [Score:2 Insightful]
norok said @ 3:57am GMT on 30th Jul
Looks like you called it.
bbqkink said @ 4:11am GMT on 30th Jul
Except this is a state, not the national government and the Governor is Republican.

This is what industries have been doing to state for some time it is blackmail it is self defeating and bad economics. If they would have taken 1/2 that money just gave it to 13,000 people they would have been money ahead.
steele said @ 11:40am GMT on 30th Jul
Give it time.
norok said @ 4:03am GMT on 30th Jul
The state, which is already in debt, is going to take on more debt. Debt in the form of money being printed perpetually for the last decade to keep governments worldwide running.

A producer of real goods is accepting inflated paper. They might be the sucker.
bbqkink said[1] @ 4:35am GMT on 30th Jul
not if they turn it fast enough...they get stuck holding it they can take a pile of it and burn it to stay warm.

Trouble is the rich don't have their money here What Happened to America’s Wealth? The Rich Hid It

New research suggests the super-rich are hiding their money at alarming rates.

They are waiting as long as they have to to get a cash holiday...then it will come in like a flood but they do anything like they did last time it will just go in another bank...a pittance will get spent...non of that on new American industry.

Tax havens: Super-rich 'hiding' at least $21tn

Mr Whiting, tax policy director at the Chartered Institute of Taxation, said: "There clearly are some significant amounts hidden away, but if it really is that size what is being done with it all?"

Mr Henry said his $21tn is actually a conservative figure and the true scale could be $32tn

norok said @ 5:50am GMT on 30th Jul
I love economics which is why I couldn't resist digging into your articles.

First, the meta-article quoted the names of the economists to give their message weight: "That’s partly why our roads and transit systems are falling apart!" I don't think the author gave much credit to his audience to be intrepid enough to find the research paper.

The paper was done on Norway; 0.07% of the world's population and with an economy 2% that of the United States. When crafting narratives I guess we just find something that kinda fits our view and expand it as far as needed to make it sensational.

What's being done with it all? It's a very good question. It wouldn't make sense for it to sit in cash free only from taxes because, back to my point, it's being chipped away by inflation every year.
satanspenis666 said @ 1:56pm GMT on 30th Jul
When US corporations hold cash oversees, the earnings often ends up in US Treasuries, as part of tax avoidance rules. Congress essentially gave corporations an OK to delay tax payments, but they would be funding the US in the meantime. The last time there was a repatriation tax holiday, corporations mainly returned the cash to the shareholders, which was against the rules but nearly impossible to prove. This is what most people think of when they talk about what the cash is doing.

But there is another layer of dark money, which is far greater. At least 5% of all wealth falls into this category, which is consisted of under the table earnings. A bigger question is what happens to this money? A portion would be held in cash or cash equivalents. Some will be held in Gold and other precious items. Some will be laundered into clean cash. The majority is likely reinvested in cash businesses and real estate.
satanspenis666 said @ 4:03am GMT on 31st Jul
captainstubing said @ 12:23pm GMT on 30th Jul
Bond yields and interest rates might be a clue...

BTW, when you say 'printing money' what do you mean?
norok said @ 2:12pm GMT on 30th Jul
Quantitative easing. "printing money" more gets the point across of what it really means.
rhesusmonkey said @ 6:46am GMT on 30th Jul
Globalization as a myth brings third world countries "up" to the standard set by North American and Europe, in reality though this is an attempt to bring the local talent pool "down" to meet somewhere in the middle (and for those benefiting, the lower the better).

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