- The Senate on Tuesday passed the U.S. Innovation and Competition Act, a $250 billion bill aimed at countering China’s technological ambitions.
- The scope of the bill, the final product of at least six Senate committees and almost all members of the chamber, could be one of the last major bipartisan bills of 2021.
- Among its many provisions, the bill provides $52 billion to fund the semiconductor research, design, and manufacturing initiatives.
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the thing about both branches of the Wall St party, is that bills that subsidize Wall St to the tune of a quarter trillion dollars somehow magically get zero resistance, while anything that helps Joe Worker goes nowhere.
that said, isn't this bill full on Communist?
what happened to Capitalist values?
funny how no amount of socialism is too much when Wall St is on the receiving end, and no amount is acceptable when Joe Citizen is.
we absolutely need those chip/semiconductor plants, but this is still Wall St being subsidized by main st when those could easily be funded privately if the right tariffs were put on said tech items starting in X yrs.
i would be totally ok with this if both branches of the Wall St party acknowledge that we are are hardly the Capitalist economy we tout it as, and more socialistic help is ok for Joe Citizen as well as Joe Investor.
that said, since the govt is funding this, why not have it be a govt industry like NASA was, instead of the govt funding it and giving the profits to Wall St, as with big pharma and more and more industries all the time.
only it being a govt industry will ensure the results govt needs insured.
Wall St will extort billions and billions more before these pants are even fully built, with the threat of moving these plants' production off shore again if Uncle Sam doesn't pay their ransom demands.
if we want to insure the US being able to keep tech supply chains on US soil, which is literally the only way to insure tech supply chains at all, thus all the other industries as well like auto and telco and everything else who are totally dependent on tech supply chains, the only way to do that is to nationalize said tech supply chains.
nationalizing the expense and risk, and privatizing the profits and control, makes absolutely zero sense other than to those on the receiving end of the govt subsidized profits and control.
of course if it wasn't main street doing this for Wall St, but rather doing it for main street itself, Joe Citizen, and the best interests of the nation instead, then this wouldn't have passed, would it.
it would be labled communism because the benefactor would be the citizenry and the US instead of Wall St, even though either way it's the govt funding it.
therein lies the real problem with our current Wall St owned govt, and who they actually work for on both sides of the isle.