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Tax ‘sunset’ approved for Mercury loan
Posted on 17 March 2010
The Fond du Lac County Board in Wisconsin unanimously approved a "sunset" provision that would set an expiration date on a county sales tax designed to pay for a $50 million loan to Mercury Marine.
The tax - a half-percent - begins April 1, according to a news report on WLUK-TV. Board members voted to repeal the county sales tax Dec. 31, 2021.
Leaders say while the loan wasn't easy, it was necessary to keep the company and its 3,000 jobs in the state.
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Interesting vote and tax on buyers. So, does this mean that other industries in Wisconsin can also threaten to leave and a county would "pay them" to stay? This sets an ugly precedent and the county might be in legal hot water if they refuse to fund other companies.
The 3000 job losses are not entirely correct, as many employees would or could follow Mercury to Oklahoma and others would be absorbed by other companies. Companies and proponents of labor like to use scare tactics and huge numbers to intimidate voters and politicians. I guess that's the new American way nowadays. Whatever happened to companies who made it on their own without taxpayer help? If I were on the Brunswick board or and executive with Mercury, I'd be embarrassed to death.
Other opinions are welcome. Thanks for listening.