Aid to Dependent Corporations, that is. Demopublican Governor Doyle feels the Senate is overstepping with health insurance, yet he has no problem writing blank checks to dependent corporations.
How much corporate welfare does Wisconsin hand out every year. More than you might think.
The Journal Sentinel examined 25 companies that were awarded about $80 million in state subsidies over a six-year period, including the 10 largest aid recipients. These 25 firms accounted for roughly one-fourth of all business subsidies given.
That turns out to be about $17,000 a job WI doles out in corporate welfare. Here are the top dependent corporations in our state.
The worst examples of crimes against the people come from GE and Kohl’s Department Stores. Kohl’s received 6.4 million dollars with a promise to create 1000 jobs. It turns out they only created 240. The State of WI paid Kohl’s almost $27,000 a year for each new worker.
How can a company get a subsidy of $27,000 an employee and under perform by 760 jobs yet still keep the whole $6.4 million dollars? Here is what Doyle’s Commerce Secretary had to say about that.
If the business struggled to meet the goal (and failed) and I tell them, ‘OK, now you have to give me back $100,000,’ is that productive? The result of that might be their bankruptcy.
Isn’t that nice. I am sure some single parent on Badger Care, child care, subsidized housing, or food stamps would get the same consideration.
This makes no frickin sense to me at all. Why would we pay a corporation almost $30,000 a year for each job they create. Why in the world would we credit them for all the jobs that existed before the subsidy. If we are paying them this much to stay, would it really matter in the total scheme of things if they left anyway.
We are the ones that are paying higher taxes so the corporations don’t have to. Its time to end welfare as we know it.