New Wisconsin Foxconn Facility Will Cost State Billions | Velshi & Ruhle | MSNBC


I’m thrilled to be here in the badger state with the hard-working men and women of Foxconn working with you moments ago we broke ground plant that will provide jobs for much more than 13,000 Wisconsin workers okey-dokey that was President Trump yesterday at the groundbreaking ceremony for newest plant playing in Wisconsin and those 13,000 jobs he mentioned might actually cost the state more than it’s worth are you scratching your head for starters Wisconsin is actually paying Foxconn for jobs as much as 3 Billy’s box and tax incentives in order to bring the company to their state that is in addition to the 134 million dollars in Highway improvements near the new facility and 764 million dollars in local city and county tax incentives for a grand total of almost 4 billion bucks at Wisconsin is giving to Foxconn and for their part-time promises to invest 10 billion dollars with the potential potential that is a number that the president cited so let’s give him the benefit of the doubt and say that perhaps they do come through with a 13000 new jobs that still means Wisconsin is offering Foxconn three hundred seventy thousand six hundred $92 / job for an average salary of $54,000 it’s on its back and then needs a new principal at risk-reversal advisers a run to you jobs in the United States respectively what the White House’s been saying with 6.7 million open position 6.4 million unemployed we have a massive skills Gap that keeps the open positions for being filled it’s always nice to see jobs being created in the state probably needs the diversification to other Industries it is number one expensive but to flies in the face the reality that were searching for jobs and not searching for workers at the Harrisburg Pennsylvania project it never materializes why should Wisconsin trust their pledge of cheap local stop my pain in his multiple angles here you have 3 million workers in China okay so they’re talking about 13,000 potential jobs in Wisconsin okay so it really doesn’t make a lot of sense if you think about it 45% of Foxconn sales come from Apple to this is Apple I’m sure putting some pressure on fox hunting we’re not going to build factories in America hit this planet okay so you’re going to do this Jeep Factory in Wisconsin at their own factories that had 15 suicides at Apple Factory back in 2010 does that not look like corporate welfare that hurt or investors text Bill where half of the S&P profits doing I’ve been reported this year has been directly the result of lower tax rates and as I said earlier I share of corporate taxes as a percentage of government revenue it’s just a continuation of what has been any of this trickle down and help wages go up because we do not have a job we have enough problems as any of this help our waves problem open jobs in cybersecurity positions around the country that pay an average of $95,000 a year for a college graduate who was just come out of school we have welding jobs that pay $100,000 a year we have trucking jobs that pay $80,000 a year going wanting for workers so for those positions to be filled in and wages were what we’re saying right now is this massive skills Gap where the jobs just can’t be filled or okay then can I ask her a moment president going after Harley Davidson St all that I did for you I for one can’t figure out what it is that he did for Harley-Davidson but is this an example of the president getting worried that the Tower of song to work out but I don’t think they have a pretty clear and I think the juxtaposition in Wisconsin between Harley and this Foxconn think is really interesting in this also goes back to retire especially when you think about the ZTE things ET supposed to just pay our government $1000000 in 5 for doing business that’s why this is a really I think this is really the main store here I really do but what I’m saying is it that this is a massive massive market for them so lots of other great videos
President Trump touted his trade policies at the Foxconn groundbreaking ceremony in Wisconsin, despite concerns over tariffs. The president promised 13,000 new jobs from the new Foxconn facility, but those jobs might cost more than they are worth.
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New Wisconsin Foxconn Facility Will Cost State Billions | Velshi & Ruhle | MSNBC

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