Among the wealthiest and cash rich companies in America are the microchip makers. Yet, they have begged Biden and congress for $53 billion to increase their chip making ability. Why are they not taking the capital investment from savings and earnings? Why should those being killed by the Bidenreccession, inflation high food and gas prices subsidize the very rich?
“Once the federal government enters an industrial activity, the government can impose rules on hiring, the size of salaries, unionization regulations, and workplace conditions.
If the federal government really wants to help industry, the best approach is to end the taxation of business.
Currently, American industry is heavily dependent on chips made in Taiwan. To make America less reliant on foreign chips, let American business be free to innovate without funds coming from Washington, D.C.”
To me this is theft from the middle class and poor to the rich and elites. What do you think.
By Richard Colman, Exclusive to the California Political News and Views, 7/29/22
Creeping into American economics is more than a whiff of socialism.
On Wednesday, July 27, 2022, the Senate passed a $280 billion bill to help the American semi-conductor (silicon chip) industry. How is this Senate bill different from a local community’s spending huge sums for a new sports stadium?
The Senate bill, which passed with both Democratic and Republican support, is designed to make America more competitive with countries like China and Germany, both of which possess advanced chip technology.
Semi-conductors are essential in many fields like computer, medical-device, and vehicle manufacturing. But is intervention by the American government the best way to proceed?
Once the federal government enters an industrial activity, the government can impose rules on hiring, the size of salaries, unionization regulations, and workplace conditions.
If the federal government really wants to help industry, the best approach is to end the taxation of business.
Currently, American industry is heavily dependent on chips made in Taiwan. To make America less reliant on foreign chips, let American business be free to innovate without funds coming from Washington, D.C
For too long, government has been an obstacle to American prosperity. Over the years, government has provided financial help to railroads, aircraft manufacturers, banks, and other businesses.
Let businesses operate without government involvement. Corporate America does not need gifts from government.
