A reader wrote in to ask me whether I thought that Elizabeth Warren was a capitalist. The question stems from an article in The Atlantic by Franklin Foer (‘Elizabeth Warren’s Theory of Capitalism.’) Frequent readers know that I link to The Atlantic often. (I’m a subscriber.) I’m also a free-market guy, so here’s a quick…
Economy
Bad Ideas, CDA, City, Corporate Welfare, Development, Economy, Employment, Foxconn, Gov. Walker, Government Spending, State Capitalism, State Government, That Which Paved the Way, WEDC
“Later This Year”
by JOHN ADAMS • • Comments
One reads that Foxconn [is] planning to buy land for innovation centers later this year. Read a bit closer, however, and one learns that ‘later this year’ is about as undependable as ‘the check is in the mail’ or ‘I gave at the office’: A question regarding innovation centers was one of many from Democratic Assembly Minority Leader…
Bad Ideas, CDA, City, Corporate Welfare, Development, Economics, Economy, Government Spending, Local Government, State Capitalism, Taxes/Taxation, That Which Paved the Way
A Tax Incremental Financing Review
by JOHN ADAMS • • Comments
Today at four o’clock, the Joint Review Board is scheduled to review Whitewater’s tax incremental districts. Views of tax incremental financing – especially in a place like Whitewater – are a good test of someone’s basic understanding of economic development. Indeed, the test reduces to a simple relationship: the more one contends that tax incremental…
Economy
Admirable Preparedness
by JOHN ADAMS • • Comments
Kruszewski: “When was the last time you heard 4% GDP growth?” Stephanie Ruhle: “Five times during the Obama administration.” CEO Ronald Kruszewski, a Trump booster, wanted to tout current economic conditions, but anchor and interviewer Stephanie Ruhle was prepared. Indeed, she was admirably – worthily – prepared for his question. Consider how many men (and…
Bad Ideas, CDA, City, Corporate Welfare, Development, Economy, Employment, Foxconn, Gov. Walker, Government Spending, State Capitalism, State Government, That Which Paved the Way, WEDC
Foxconn Deal Melts Away
by JOHN ADAMS • • Comments
Rick Romell and Molly Beck report Foxconn now declines to say it plans to build type of factory named in state, local contracts: But in a shift from its stance of two months ago, the company on Wednesday did not offer assurances that it still plans to build the type of liquid crystal display panel plant…
Bad Ideas, CDA, City, Corporate Welfare, Economics, Economy, Free Markets, Government Spending, Innovation Center/Tech Park, Local Government, Politics, State Capitalism, Taxes/Taxation, That Which Paved the Way
The Trump Tax Bill: The Illusory Pay Bump
by JOHN ADAMS • • Comments
In the spring, before and after a local election, the Whitewater Community Development Authority issued two press releases praising a part of the Trump tax bill as good for Whitewater. CDA executive director Dave Carlson presumably wrote the releases, and Larry Kachel, the CDA chairman, stars in one of them as offering gratitude for gerrymandered congressman…
Bad Ideas, CDA, City, Economics, Economy, Government Spending, Innovation Center/Tech Park, Local Government, Politics, Taxes/Taxation, That Which Paved the Way, Trump
The Trump Tax Bill: Massive Federal Deficits
by JOHN ADAMS • • Comments
The Whitewater Community Development Authority’s press releases flacking a part of the Trump tax bill for Whitewater show only that they either don’t understand what the Trump bill means for America, or that they hope others won’t understand. (See press release 1, press release 2.) This bill will drive the federal budget deficit to astonishing and…
Bad Ideas, CDA, City, Economics, Economy, Politics, Taxes/Taxation, That Which Paved the Way, Trump
The Trump Tax Bill: The Wrong Incentives
by JOHN ADAMS • • Comments
Whitewater’s Community Development Authority twice touted a part of the Trump tax bill as good for Whitewater. (See press release 1, press release 2.) Continuing a general look at the bill, it’s clear that it’s bad public policy, producing the wrong incentives. By its very nature, a tax bill is a government policy, favoring some allocations…
Bad Ideas, CDA, City, Corporate Welfare, Development, Economy, Employment, Foxconn, Gov. Walker, Government Spending, Paul Ryan, State Capitalism, That Which Paved the Way, Trump, WEDC
Trump, Ryan, and Walker Want to Seize Wisconsin Homes to Build Foxconn Plant
by JOHN ADAMS • • Comments
A video on how Trump, Ryan, and Walker are abusing eminent domain law and seek to destroy the homes of Wisconsinites to build the Foxconn plant is well worth watching. The short video was removed from YouTube over a bogus copyright claim, but it’s back online. (In the time since the video was first published,…
Agriculture, Economy, Trade, Trump
A Farmer on Trump’s Trade War: I Can’t ‘Take It’
by JOHN ADAMS • • Comments
Bad Ideas, CDA, City, Economics, Economy, Politics, Taxes/Taxation, That Which Paved the Way, Trump
The Trump Tax Bill: That’s Not Reform
by JOHN ADAMS • • Comments
Whitewater’s Community Development Authority represents a specific part of the Trump tax bill as beneficial to this city. (See press release 1, press release 2.) For today, looking at the bill generally, it’s bad for America: it’s a sham reform instead of a beneficial restructuring, and it makes this country’s outlook worse. Benjamin H. Harris and Adam…
Bad Ideas, CDA, City, Economics, Economy, Local Government, Politics, Taxes/Taxation, That Which Paved the Way, Trump
More About that Trump Tax Bill
by JOHN ADAMS • • Comments
In the spring, Whitewater saw two Community Development Authority press releases touting a specific part of the Trump tax bill. (See press release 1, press release 2.) In response, this website replied (1) with a link to a Congressional Budget Office study implying that, overall, the Trump bill will boost incomes for foreign investors but not…
Bad Ideas, CDA, City, Economy, Employment, Foxconn, Gov. Walker, Government Spending, State Capitalism, State Government, WEDC
The Next Guest Speaker
by JOHN ADAMS • • Comments
Last winter, the Greater Whitewater Committee, a local 501(c)(6) business league, invited Matt Moroney (a longtime Walker operative) to speak to residents on Foxconn’s many supposed benefits. The Daily Union‘s longtime stenographer correspondent dutifully and uncritically reported on Moroney’s remarks. See A Sham News Story on Foxconn. Over the years, key leaders of this business league have served…
CDA, City, Conflicts of Interest, Corporate Welfare, Economics, Economy, Education, Local Government, Marketing, Mendacity, Politics, State Government, That Which Paved the Way, Tony Evers, WEDC, Wisconsin
Redefining Reality
by JOHN ADAMS • • Comments
Tony Evers, State Superintendent of Public Instruction and candidate for governor, has a new video about a political effort to redefine reality. The video is about Scott Walker, but it might as easily have been about any number of local politicians in Whitewater or other small Wisconsin towns, with tax breaks for out-of-towners and cronies…