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Michigan spent $1.8B and only created 602 jobs

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Re: Michigan spent $1.8B and only created 602 jobs

#21

Post by mtnGoat »

NoahZuniga wrote: post #15

> Hohman examined eight major projects—"those that offered $100 million in payments and received significant media attention"—totaling $2.7 billion in promised incentives > All told, the governor said that her major subsidy projects would create 20,595 jobs in Michigan Even using these numbers that works out to $135k/job, which is bonkers!

Not really, if the job lasts 30 years it will absolutely offset itself with local economic activity. These people will pay taxes, buy homes, visit doctors and much more.

Re: Michigan spent $1.8B and only created 602 jobs

#23

Post by georgeburdell »

mtnGoat wrote: post #21
NoahZuniga wrote: post #15

> Hohman examined eight major projects—"those that offered $100 million in payments and received significant media attention"—totaling $2.7 billion in promised incentives > All told, the governor said that her major subsidy projects would create 20,595 jobs in Michigan Even using these numbers that works out to $135k/job, which is bonkers!

Not really, if the job lasts 30 years it will absolutely offset itself with local economic activity. These people will pay taxes, buy homes, visit doctors and much more.

This is $currentyear. Jobs are 10 years tops

Re: Michigan spent $1.8B and only created 602 jobs

#24

Post by coldbrewed »

Henchman21 wrote: post #19
binary132 wrote: post #17

Earlier quoted context omitted.

it’s almost as if they are just lying about the purpose and doing it for some other purpose that it is perfectly effective for

Self-enrichment on the part of government employees?! I am SHOCKED BEYOND ALL BELIEF. /s

We need more judges and prosecutors that are hungry to catch corruption and are willing to go after white collar crime.

Re: Michigan spent $1.8B and only created 602 jobs

#26

Post by Petersipoi »

mtnGoat wrote: post #21
NoahZuniga wrote: post #15

> Hohman examined eight major projects—"those that offered $100 million in payments and received significant media attention"—totaling $2.7 billion in promised incentives > All told, the governor said that her major subsidy projects would create 20,595 jobs in Michigan Even using these numbers that works out to $135k/job, which is bonkers!

Not really, if the job lasts 30 years it will absolutely offset itself with local economic activity. These people will pay taxes, buy homes, visit doctors and much more.

People will truly justify anything. My god. We can't even hold governments accountable for waste because people will bend over backwards to justify any amount of spending.

Re: Michigan spent $1.8B and only created 602 jobs

#27

Post by betaby »

tancop wrote: post #5

selectively giving away free money to big business is straight corruption. there is no other way to put it. everyone involved should lose re election and get investigated by the financial crimes unit. but i dont think "leave it up to the market" is a better idea. investments like this just need to be transparent, open to everyone and set up strict punishment for stealing the money with prison for executives. if they…

> selectively giving away free money to big business is straight corruption

Liberals in canada call that 'making housing affordable', https://www.cbc.ca/news/canada/british-columbia/prime-minist...

It feels that in Canada business is impossible unless it's directly funded by the government.

Re: Michigan spent $1.8B and only created 602 jobs

#28

Post by fn-mote »

rogerrogerr wrote: post #14
meetingthrower wrote: post #4

Earlier quoted context omitted.

The tfa says that almost all of this went to big public automakers. Enraging. I initially thought that this was going to some small biz thing that at least would slosh the money around through the owners. But nope - corp welfare!

Doesn’t this basically mean the money was sloshed around to 401k and pension funds?

That statement trivializes the whole situation.

Short answer: no.

The government just gave money to every executive in the company, and your argument is that because the company stock is also held by pension funds, they were supporting pension funds? Makes little sense.

Just giving the money straight to the pension funds would be much more efficient. This method enriches a bunch of non-contributors along the way.

Re: Michigan spent $1.8B and only created 602 jobs

#29

Post by kgwxd »

0xbadcafebee wrote: post #20
ryandrake wrote: post #3

> A new report suggests the state of Michigan is the latest to learn that lesson the hard way. There doesn’t seem to be any lesson-learning happening, since governments keep trying this despite the outcome always being the same.

Correct, reporting this is doing nothing to stop it. People don't directly see the impact of it on their paychecks or budgets so they forget about it the hour after they read about it. The next politician can do it without fear of reprisal

pointing out a stop sign does nothing to stop cars either, but it's a pretty important step if you want any cars to stop.

Re: Michigan spent $1.8B and only created 602 jobs

#30

Post by ww520 »

tancop wrote: post #5

selectively giving away free money to big business is straight corruption. there is no other way to put it. everyone involved should lose re election and get investigated by the financial crimes unit. but i dont think "leave it up to the market" is a better idea. investments like this just need to be transparent, open to everyone and set up strict punishment for stealing the money with prison for executives. if they…

It's straight corruption, no matter of big or small business. It should have been randomized blind selection of business who have existed for more than a year, and the granted money pays for new employees' taxes. Blind selection takes out the path to corruption (not who you know to get the fund). Randomized to be fair. Government is bad at picking winners or losers anyway. Business more than a year to screen out frauds. Granted money for new employees' taxes to encourage hiring new employees. Paying the taxes only so that the money can be spread out to more people.
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