Let the market pick winners

Print Article

Foxconn precedent will have companies lining up for handouts.

SURPRISE, SURPRISE. Other companies were paying attention when Wisconsin spread the table with $3 billion in taxpayer-backed incentives for Foxconn Technology Group.

Kimberly-Clark Corp. made clear to Wisconsin's elected decision-makers that either it gets what it wants in a lame duck session - roughly $100 million from taxpayers - or it will close a Wisconsin plant and toss 400 employees out on the street.

Republicans are still in charge. Gov. Scott Walker favors the measure. The Assembly has signed on. The Senate, it appears, so far has not found enough votes.

Add this nugget for consideration: When Sen. Luther Olsen, a Republican skeptic, asked a Kimberly-Clark executive for financial data during a hearing the company spokesperson would not answer. Seems fair, to us, that if a company wants $100 million from taxpayers the people deserve answers.

Question: Does anybody think Kimberly-Clark will be the last company to line up at the taxpayer trough?

Call us naive, but we still believe the marketplace - not the government - should pick winners and losers.

Print Article

Read More Editorials

Uncomfortable? As it should be.

February 19, 2019 at 10:13 am | Question: Is Beloit prepared for what it will take to turn around the schools? IN A STORY last week the Beloit Daily News reported the School District of Beloit had departed from tradition by offe...

Comments

Read More

Just weeks in, it's a logjam

February 19, 2019 at 10:14 am | Two years of getting nothing done ahead in Madison. POLITICAL QUOTE number one: "There is no way we are ever going to agree to an increase in taxes. If you (Gov. Tony Evers) insist that's the only...

Comments

Read More

Is this really what we want?

February 11, 2019 at 10:05 am | Partisan death matches sow discord all across America. ACCORDING TO WEBSTER, the word compromise is defined thusly: "Settlement of differences by arbitration or by consent reached by mutual conces...

Comments

Read More

Politics seldom dictates markets

February 11, 2019 at 10:05 am | Higher pay is a good thing, but government mandates can backfire. AWHILE BACK THERE was an editorial cartoon that showed the outline of the financially-troubled State of Illinois. Frantically flee...

Comments

Read More

Contact Us

(608) 365-8811
149 State Street
Beloit, WI 53511

©2019 Beloit Daily News Terms of Use Privacy Policy
X