Sunday, November 27, 2011

Buying Jobs With Taxpayer Money Is Really F'ing Expensive

So, Republican legislators in Wisconsin have a plan for the sad state of unemployment in our state - corporate tax breaks in return for hiring people.

Let's be clear, the Siren does believe that some incentives do work really well and should be in place to reward companies that come to Wisconsin, expand and hire workers.

At the same time the incentives given to companies are paid for by taxpayers. Whether it comes from lost tax revenue by giving breaks or in actual state grants: it isn't magic fucking money - it's our money.

So imagine our surprise to learn that the Walker administration has not only been giving away millions of taxpayer money to companies who promise to hire workers but they aren't even bothering to follow up to see if they have hired anyone - and they aren't.

Only 8% of companies granted tax bonuses for hiring have fulfilled their contract.

A report compiled by the Wausau Daily Herald showed not only are companies failing miserably to fulfill their tax credit contract ($350,000,000 under Walker alone) but they say the credits don't really add up to much compared to the super-sized bonus structure they already get. Some companies who have hired say the tax credit had nothing to do with it in the first place and did not effect their desire or ability to hire additional staff - demand did.

So while Walker gives away money to Wisconsin corporations to hire people they they aren't hiring as he cuts money for schools, health care, local governments, transportation, public safety, corrections, libraries and well over a thousand public jobs - he ultimately slashes millions and millions of dollars in disposable income Wisconsinites have to create demand for the companies who really don't give a shit about the job tax credit in the first place.