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US Government Fails the Public again with Semiconductor Bill
18 sats \ 6 comments \ @BlokchainB 27 Jul 2022 bitcoin
So the US Senate approved a $52 billion semiconductor bill plus a 25% tax credit for new domestic investments. Still has to pass the house but if it does this is absolutely ridiculous!
Most of these companies are multi billion dollar corporations that buy back shares and pay their CEOs generational wealth Intel CEO makes $178 million. Due to decades of poor investment and exporting labor overseas here comes the government using public money to picking winners.
My overall issue with this is why does a robust semiconductor industry need more economic stimulus from the tax payer?
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115 sats \ 4 replies \ @cryptocoin 27 Jul 2022
My overall issue with this is why does a robust semiconductor industry need more economic stimulus from the tax payer?
For want of a nail the shoe was lost. For want of a shoe the horse was lost. For want of a horse the rider was lost. For want of a rider the message was lost. For want of a message the battle was lost. For want of a battle the kingdom was lost. And all for the want of a horseshoe nail.
It's the same thing with the chips.
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20 sats \ 3 replies \ @kilianbuhn 27 Jul 2022
They are planing to end the dependence on TSMC. And in 10y they will betray Taiwan.
Putting the lives of honest and innocent Taiwanese people at risk just because their economical value has declined.
That's what fiat money and world reserve currency does to humans.
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20 sats \ 1 reply \ @BlokchainB OP 27 Jul 2022
TSMC wouldn’t be the behemoth it is now if intel actually cared to make chips here. Apple went to them for their iPhone chips intel was like naw we good let’s buy back some shares
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20 sats \ 0 replies \ @cryptocoin 27 Jul 2022
That's a very fair point.
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0 sats \ 0 replies \ @cryptocoin 27 Jul 2022
They are planing to end the dependence on TSMC.
TSMC is a huge beneficiary of this.
Taiwan official calls for approval of U.S. computer chip subsidies https://www.washingtonpost.com/us-policy/2022/06/28/tsmc-arizona-construction-subsidies/ https://archive.ph/uq3oM
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20 sats \ 0 replies \ @kilianbuhn 27 Jul 2022
It's 250b ... The 52b were just the rumors!
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