In my view, we must prevent microchip companies from receiving taxpayer assistance unless they agree to issue warrants or equity stakes to the federal government. If private companies are going to benefit from generous taxpayer subsidies, the financial gains made by these companies must be shared with the American people, not just with wealthy shareholders. In other words, if microchip companies make a profit as a direct result of these federal grants, the taxpayers of this country have a right to get a reasonable return on that investment.
Sure, why not? As long as chipmakers are allowed to not take up this offer then it’s like any other capitalist investment, isn’t it?
Further, if microchip companies receive taxpayer assistance, they must agree that they will not buy back their own stock, outsource American jobs overseas or repeal existing collective bargaining agreements, and they must remain neutral in any union organizing effort.
Might find a shortage of takers of course….
Well any manufacturer for that matter.
Trump made this crystal clear to the US motor industry.
“if microchip companies receive taxpayer assistance, they must agree …”
Well, if you’ve bought stock in the company, then yes you do get to choose what the company does, regardless of whether the company agrees with it. It’s your company after all, you get to choose what to do with it.
Bernie wants to appear a patriot so that when it becomes clear what Big Tech agreed with the Dems to get Dopey Joe elected he can try to lower his head below the parapet. Wait till China invades Taiwan…
I’m curious to see whether the GOP (or the RINOs) have the cojones to actually go after the Democrats if they get a super majority in the next elections.
There must be a load of skeletons in the closet that the Dems don’t want to see the light of day.
As for Bernie’s attempt to onshore America’s tech industry, I understand that most of it is staffed by Chinese, Indians and Israelies anyway. White male STEM types being Persona non Grata on American tech campuses anyway.
I see Bernie Sanders’ grasp of economics has reached a state known as Pure Murphy.
And speaking of the Great Man, here’s a gem from today’s whine about having COVID (for the 15th time):
One thing I noticed though, which is how extraordinarily long the day is when doing nothing. I admit I am bad at doing nothing. I am much better at dual tasking. But how do people manage to do nothing, all day? I am baffled.
Evidently the days are shorter when you’re doing a lot but accomplishing nothing. The fact that success is measured by accomplishment rather than effort expended eludes him.
I’m in agreement with him on dual tasking: He often manages to fuck up more than one thing at a time. Like accounting and tax, or accounting and finance, or finance and economics, or economics and reality, or…
And yes, Richard, when you say you are baffled, I believe you!
@Blokeinbrum
Unfortunately that won’t happen. It is possible in the House of Representatives, but unlikely due to gerrymandering. The Senate is specifically designed to be almost impossible to change in one election. Only a third of the Senate is up for reelection in any given year. This year, more Republicans are up than Democrats. Most likely we will have a hung government until the next presidential election in 2024.
Go go gridlock!
@ Dennis and this is the man who wants to lockdown the country in perpetuity because COVID was going to kill 50000 per day, despite having COVID every other month and not killing him.
‘… not just with wealthy shareholders…’
Many shareholders are not wealthy with modest number of shares, most others are pension funds.
It’s the entrenched Socialist view that capitalism equates with rich people at the expense of ‘poor’ people. It forgets the big middle, neither rich nor poor.
@Ottokring
100%! The government shouldn’t be choosing winners or losers, even when I agree with their choice. As much as I like DeSantis in general, and hate Disney, why the State of Florida was ever giving any corporation any special tax status at all is beyond me.
I’m slowly but steadily becoming an anarchist at this point.
” As much as I like DeSantis in general, and hate Disney, why the State of Florida was ever giving any corporation any special tax status at all is beyond me.”
Oh I don’t know, having a world class tourist attraction like Disneyworld has to have been worth a heck of a lot business and revenue to Florida over the last 50 years. I’m not agreeing with the idea of special treatment for some companies, but I reckon Florida haven’t lost out by attracting Disney to the state.
Florida was little more than Miami and swampland at the time Walt Disney decided to build there. There was no there there. So Florida gave him whatever he wanted.
What you need to understand is this: Florida may not have made much off Disney itself, but it made tons off all of the businesses and individuals that located there to provide goods and services to Disney. No tax breaks for them, guaranteed.
You know what dwarfs Honda’s facilities in Marysville, Ohio? The facilities of all the companies that feed Honda’s facilities. For the state and local governments, that’s where the tax revenues are.
Intel is going to build chip plants in Central Ohio, and they got themselves a hell of a tax deal. No matter, we already have all sorts of companies that work with Intel buying as much farm land in Licking County as they can lay their hands on. That’s the revenue stream for government right there.