Home
/
RELIGION & LIBERTY ONLINE
/
The J. Wellington Wimpy crony capitalist policy
The J. Wellington Wimpy crony capitalist policy
Jan 28, 2026 7:12 AM

“I’ll gladly pay you Tuesday for a hamburger today,” was a catchphrase made famous by J. Wellington Wimpy, a character in ic strip Popeye. But it also describes, with slight modification, the attitude of crony panies to American taxpayers: “I’ll begrudgingly pay you in the future for services provided today.”

A couple of week’s ago I wrote about the greatest crony capitalist deal in Wisconsin history. The state offered to Foxconn various government-granted privileges, a mix of different types reportedly worth $3 billion. pany agrees to create 1,000 jobs in the second half of 2017 and employment will grow to 13,000 by 2021. All this at an average of $53,900 a year per employee and in return the taxpayers of Wisconsin subsidize the workers at a cost of $231,000 per job.

And then Foxconn pulled a Wimpy on Wisconsin by saying, “I’ll gladly pay you in 25 years for the $3 billion today.”

Based on estimates from the non-partisan Legislative Fiscal Bureau—which provides fiscal analysis for the state legislature—Wisconsin will not receive a return on its investment in the project until about 2042.

“Any cash-flow analysis that covers a period of nearly 30 years must be considered highly speculative,” said the report.

According to Rob Reinhardt, a bureau program supervisor, the bureau based its analysis on Foxconn reaching its threshold of 13,000 employees. If the actual employment number was 3,000, the break-even point would be so far in the future that it is “silly to talk about,” said Reinhardt.

Reuters reports that based on the report, “if 10 percent of projected new jobs from the project were filled by Illinois residents, a concern of several lawmakers, the state would not break even until about 2044.” I’m sure Wisconsin residents will be thrilled to hear that their state tax dollars are going to pay $231,000 per job for Illinois residents.

In Robert Altman’s 1980 live-action musical film Popeye, a sign in a restaurant reads “Positively NO CREDIT. This means YOU, Wimpy.” Maybe someday taxpayers will take the same initiative and put a message on their state signs that say, “Positively NO GOVERNMENT-GRANTED PRIVILEGES. This means YOU, Cronies.”

Comments
Welcome to mreligion comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
RELIGION & LIBERTY ONLINE
The suffering of Cardinal Zen
This article is written by Moris Polanco, originally published by Instituto Fe y Libertad and republished with permission. The elderly cardinal Zen Ze-kiun, bishop emeritus of Hong Kong, said in his blog on February 5, 2018, “The brothers and sisters of mainland China are not afraid of being reduced to poverty, of being put into prison, of shedding their blood. Their greatest suffering is to see themselves betrayed by ‘family.’” He’s right. For a moment let’s put ourselves in the...
Radio Free Acton: The debasement of human rights; Econ quiz on USMCA
On this episode of Radio Free Acton, John Couretas, Director of Communications at Acton, speaks with Aaron Rhodes, a human rights activist based out of Hamburg, Germany, about Aaron’s new book “The Debasement of Human Rights.” Where does the notion of human e from and how can we better defend it? Then Caroline Roberts, Producer of Radio Free Acton, talks to Stephen Smith, Professor of Economics at Hope College, about the new North American trade agreement, the USMCA. They discuss...
Watch Samuel Gregg’s 10 minute defense of religion and freedom
Let me take a moment to brag about my colleagueSamuel Gregg, the Director of Research here at the Acton Institute. Almost every week we post an article or video by Gregg here on the PowerBlog, and yes, that’s partiallybecause he’s one of us. But we’d be promoting his work even if he wasn’t a part of Acton for the simple reason that Gregg is one of the most articulate defenders of ordered liberty in the world. Don’t just take my...
Listen: The Christian case for capitalism
The Institute of Economic Affairs explores the ethical argument for a free economy – and why Christians are not making it. In the latest episode of its podcast, an Anglican priest and a Catholic scholar discuss that question, as well as Archbishop Justin Welby’s homily against Amazon, Jesus’ supposed condemnation of wealth, and why clergy tend to support government intervention into the economy. Fr. Marcus Walker, Rector of St. Bartholomew’s Church (COE) in London, speaks with Religion & Liberty Transatlantic...
D.C. restaurants fight back: When workers oppose a higher minimum wage
Last June, Washington, D.C. residents voted to pass Initiative 77, a ballot measure that raised the minimum wage for all restaurant workers, including those making tips. Driven by Restaurant Opportunities Centers United (ROCUnited), the policy was meant to ensure that “that no one has to experience the financial es with being forced to live off tips.” Yet many of the very workers who the law sought to rescue or protectdidn’t want it in the first place, and fought vociferously to...
Are you more rational than the market?
Note: This is post #96 in a weekly video series on basic economics. The stock market is prone to certain anomalies. There’s the Monday Effect (where stocks fall more on Mondays), the January Effect (which says that stocks surge higher in that month), and the Momentum Effect (where past stock performance predicts future performance, at least a bit). Can’t a savvy investor take advantage of these anomalies to “beat” the market? Probably not. “Despite its flaws, the market is still...
Why Columbus is more important than you realize
There is likely no public secular holiday more controversial than Columbus Day. Since the observance first began to be celebrated in the nineteenth century it has been opposed by a diverse rage of groups, from the Ku Klux Klan to the American Indian Movement to the National Council of Churches. The Italian navigator tends to provoke strong reactions throughout the Western Hemisphere, and every year we renew our debates about whether he was a bold and brave explorer or a...
What does Amazon’s minimum wage have to do with the Church?
In a recent article for The American Spectator, Rev. Ben Johnson, senior editor at the Acton Institute, addresses some of the problems that arise for the Church as a result of Amazon’s recent wage raises. According to Johnson, “Amazon recently announced that it is raising the wage of its lowest-paid U.S. workers to $15 an hour, and above the proposed ‘real living wage’ in the UK.” es in addition to Amazon’s CEO Jeff Bezos’ “plans to lobby Congress to raise...
From ideology to imagination: How Russell Kirk brought me back to conservatism
This is the third in a series celebrating the work of Russell Kirk in honor of his 100th birthday this October. Read more from the serieshere. As a young college student entering the fray of campus debates, I became enthralled with a particular variety of libertarian thought. Though once a conservative, I began to pack my brain with the likes of Bastiat, Mises, Hayek, and Rothbard. I grew confident in my opinions about policy and was proud of the ideological...
Force fathers to stay at home? A warning from Europe
It was a curious sight to see a Wall Street Journal op-ed call for social engineering to change the way families choose to raise newborn babies. It was more curious yet to see right-leaning Catholics endorse the notion “in the name of conservative family values.” This is especially true, as Europe shows the manifest failures and harmful effects of their chosen policy. Joanne Lipman opened the debate with her op-ed titled, “Want Equality? Make New Dads Stay Home.” She highlighted...
Related Classification
Copyright 2023-2026 - www.mreligion.com All Rights Reserved