US President for Life Donald Trump has decided the US government should buy a stake in Intel Corporation. The struggling chip maker has seen drastic drops in it’s stock value since 2024.
Trump wants the US to take a 10% stake, or about $9B worth, of the company. Detractors are noting this socialist move is not the best way to help the company, nor does it provide the American people with value.
“Today it’s Intel, tomorrow it could be any industry a future Commerce Secretary decides to control,” Paul told Politico after hearing about the deal last week. “If conservatives endorse this now, they hand Democrats a blueprint to expand government ownership over the private sector later. Socialism is literally government control of the means of production.” – Rand Paul Futurism
The nation’s defense posture is at risk if chip manufacturing for hi tech weaponry is reliant upon foreign sources. Joe Biden’s CHIPS Act was a combination of grants, subsidies and loans to encourage chip manufacturers to open up or expand plants in the US (Wikipedia) without a government take over. Trump cancelled the CHIPS Act soon after taking office.
- Trump Embraces Socialism, Nationalizes Failing Chipmaker Futurism
- Trump Is Making Socialism Great Again The Atlantic
- CHIPS and Science Act Wikipedia
- Is Trump a socialist? Vox
- Trump Embraces State Capitalism Foreign Policy