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Posted on 08/23/2025 1:59:47 PM PDT by RandFan
@RepThomasMassie
Our government should not have ownership in private companies. There are so many specific problems with an arrangement like this, but fundamentally, this is not who we are as a country.
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As I understand things, which may be incorrect, Biden arranged to hand out grants to integrated circuit companies to build factories.
What Trump wants to do is to get 10% of Intel’s stock in return for the federal investment.
The reason Biden and Trump want integrated circuit companies to build factories in the USA is because the factories in Taiwan vital to our high-tech companies may be destroyed by the PRC since Xi craves Taiwan more than Putin craves Ukraine. Many people think Xi is just waiting to see if Putin gets all of what he craves.
Thugs do cause problems, especially when they run countries with powerful military forces.
It’s up to Congress to decide if Biden’s plan as improved by Trump goes forward.
Only if some of that money will find its way into their own pockets.
WIKI
In United States history, the Report on the Subject of Manufactures, generally referred to by its shortened title Report on Manufactures, is the third of four major reports, and magnum opus, of American Founding Father and first U.S. Treasury Secretary Alexander Hamilton. It was presented to the Congress on December 5, 1791. In the report, Hamilton argued for industrial policy to support modern manufacturing technologies in the United States.
It laid forth economic principles rooted in both the mercantilist system of Elizabeth I’s England and the practices of Jean-Baptiste Colbert of France.
Hamilton reasoned that bounties (subsidies) to industry, which would rely on funds raised by moderate tariffs, would be the best means of growing manufacturing without decreasing the supply or increasing the prices of goods. Such encouragement by direct support would make American enterprise competitive and independent along with the nation as a whole. In part subsidies would be used for the following:
Encourage the nation’s spirit of enterprise, innovation, and invention.
Support internal improvements, including roads and canals to increase and to encourage domestic commerce.
Grow the infant nation to a manufacturing power that would be independent of control by foreign powers by relying on their goods for domestic, especially defense supplies.
Although Hamilton supported the promotion of domestic manufacturing at a time when the United States had little industrial development, he favored “subsidies and encouragements to invest rather than high tariffs” and believed that tariffs were not particularly effective in fostering industrial growth. According to Irwin, Hamilton aimed to support manufacturing without necessarily shielding it from foreign competition, recognizing that excessive protection could lead to inefficiency and reduce overall trade.
https://en.wikipedia.org/wiki/Report_on_Manufactures
I can’t wait for Massie to be gone
And how about Fanny and Freddy who used to be private and then they got rolled right into the government
And often with NO return on investment. Trump’s getting a great return
Only liberals talk like that.
And he’s stupid.
“Although Canon has not made the price of the machines public, when the company first unveiled the technology, CEO Fujio Mitarai said the price would be ‘one digit less than ASML’s EUVs.’ The latest version of Netherlands-based AMSL’s High Numerical Aperture NA Extreme Ultraviolet (High NA EUV) machines currently retail for approximately $370 million.”
“The company has said its machine is capable of producing parts down to a 5nm node, and could eventually produce 2nm nodes once the technology has been refined even further.”
Maybe not directly, but yes. Think Raytheon.
Is owning stock in a company any worse than handing out big fat government contracts to private companies ?
Does the government still own GM?
The chips act stole money from tax payers and gave it to big corporations under the promise that they’d build industry locally. Intel took the money and has now said they no longer want to build their foundry business. Trump converted this “grant” into a stock position for tax payers so now they’ll get a return on their investment. They are not taking over the company. I don’t think generally speaking the government should be investing tax payers money into corporations but this is a vastly better deal for tax payers than the CHIPS act. If Intel does manage to turn the company around the entire tax base will benefit. This can be used to pay down debt or eventually sent back to tax payers. This is not the government forcibly taking over industry.
“””How much did Jackass Joe give away to Rivian, free of charge?”””
And who gave the money to SOLYNDRA????
This guy, Thomas Massie must have flunked history class and doesn’t read any Newspaper’s current events.
And, that “not who we are as a country,” has become trite.
No original thoughts and flunking History?
Get lost, TM, you are a loser.
Massie is Deep State’s.
Nuff said.
There is also the issue that TSMC only manufactures chips. It is never (or likely to be) in competition with its current or potential customers.
The problem with Massie’s position is that China will gladly give Intel a trillion dollars for part ownership. How does a private company resist that?
Taking a complete hands-off position in how a company operates opens the door to foreign companies from owning the US outright.
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Massie is a self righteous ideologue.
No common sense can enter his stubborn head.
Chip science and technology is as fundamental to national security as powder, shot & shell once was. The USG once ran arsenals where they were produced. If more was needed it was contracted out. The arsenals provided a fundamental level of powder, etc. for national security. One of the most famous everyone probably everyone has heard of - the Springfield Arsenal\Armory.
https://en.wikipedia.org/wiki/Springfield_Armory
This was deemed acceptable in an economy far far more Adam Smith-like then the present one. Massie is showing his ignorance & his deranged antiTrump attitude. Goal for him is just to make headlines rather then accomplish something.
Only problem with this is how to handle any IP for technology that might be developed.
Thankfully this turd will be primaried next year
Everybody talks like fascism is a bad thing.
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