Wednesday, July 14, 2010

Obama to Open New KOREAN Plant- at US Taxpayer Expense

The Korean press is reporting that President Barack Hussein Obama will be attending the groundbreaking for an LG Chem Battery Plant in Michigan. This plant is used to create batteries for hybrid cars.  What is important to note, is that this is a Korean business that received $280 million in cash and tax incentives to build the plant to create only 400 jobs.

The $280 million works out to over $700,000 PER JOB! Senior Management will be S. Korean, so that will likely leave only 380 jobs actually created.

Why not give the money to an AMERICAN company?  OR just give 400 people $70,000 per year for 10 years of 4000 people $70K for 1 year.

If should also be noted that it is VERY rare for a US President to attend the opening of a plant belonging to a foreign country- even if they are allied with us. 

I am not opposed to creating jobs, but I am opposed to supporting foreign companies with US Tax Dollars when there are American Companies that could use the support.


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