Recall how Wisconsin Republicans talked about running government like a business when they took control of the state in 2010? Now these so-called business people will give away $3 billion of taxpayers’ money to a high-risk Foxconn venture while providing us lenders with no collateral, progress metrics or clawback provisions.
The elected officials giving our money away can get six figure “show up jobs” paid by Foxconn and other dark money sources when things go bad. We take all the risk, they get the rewards. We are asked to just believe that all will turn out great.
I propose we do what real business people do in high-risk deals. To help cover shortfalls when they occur, taxpayers should require all elected officials who support the proposed Foxconn deal to provide us with 20-year personal guarantees that pledge all current and future income and assets of their families.
That’s how real business deals work. Investors share risks and rewards, and everyone has skin in the game. As it stands now, it’s heads they win, tails we lose.
Preston Schutt, Madison