Friday, February 23, 2024

Buying votes with American fascism!-----Biden Pours Out Another $6.5 Billion for CHIPS Act's Costly Protectionism

Biden Pours Out Another $6.5 Billion for CHIPS Act's Costly Protectionism - VARAD RAIGAONKAR 
"...While the legislation was likely well-intentioned, it was doomed to have protectionist ramifications. "To defeat China, the argument goes, the U.S. must adopt the tactics of the Chinese Communist Party, at least when it comes to high-end manufacturing," Reason's Eric Boehm wrote in January 2023...
It's likely unsurprising that many large corporations lobbied for the CHIPS and Science Act, including Meta, Microsoft, Google, Amazon, Apple, Northrop Grumman, Carrier, Trane, and General Dynamics, as well as labor unions like the American Federation of Labor and Congress of Industrial Organizations and the Communications Workers of America. 
"Big government means big lobbying," wrote David Boaz, a senior fellow at the Cato Institute. "When you lay out a picnic, you get ants. And today's federal budget is the biggest picnic in history."...

No comments: