Federal Handout to Intel Will Cost $283,000 Per Job, and That's Being Generous

https://reason.com/2024/03/20/feder...cost-283000-per-job-and-thats-being-generous/

HYPERLINK has full article

snip

American chipmaker Intel will receive up to $19 billion in corporate welfare, the White House announced Wednesday, making it likely to be the largest recipient of taxpayer-funded aid intended to boost semiconductor manufacturing................

$8.5 billion in direct grants to Intel, which will also have access to $11 billion in federal loans. For all that money, Intel is expected to create 30,000 jobs.

In other words, taxpayers will pony up over $283,000 per job created—and that's counting only the $8.5 billion in direct payments to the company.

The math gets even worse if you read Intel's press release, which clarifies that 20,000 of those 30,000 new jobs will be temporary construction jobs connected to building new facilities in four states.

end snip

and another link from a Democrat news source

https://www.cnbc.com/2024/03/20/int...lion-from-chips-act-with-loans-available.html

I am tired of hearing the Democrat party lay claims of corporate welfare at the feet of the GOP. I am also tired of the Democrat media making the same false claim.

As I say countless times, Democrat or Republican, they are corrupt. Is this what our taxes are to be used for according to the Constitution?

 

Well, don't worry too much, don't lose any sleep.

20 years ago Halliburton and other companies received the equivalent of the gift to Intel. The Cheney GOP saw to that. Large profits for war mongers. And of course the same thing happened just 4 years ago with the CARES Act and the Scamdemic.

In our fascist system corporations like Intel do quite well, thanks.

 

Why don't you show us where in the White House announcement it says "welfare?"

Geez.

 

They help for the semiconductor industry had full bipartisan support, but thanks again for your misleading editorial.

https://www.peters.senate.gov/newsr...rengthen-domestic-semiconductor-manufacturing

TX doesn't mind either.
https://www.texastribune.org/2023/08/04/congress-texas-semiconductor-industry/
“This language will help Texas, already the nation’s leading chip producer, continue to grow this burgeoning industry and bring more jobs to the Lone Star State while boosting America’s economic and national security,” Cruz said in a statement.

 

It was based on Bipartisan Legislation (which received several GOP votes in both chambers).
The funding will come from the bipartisan CHIPS and Science Act, a law signed by Biden in 2022 to invest $200 billion in domestic production of semiconductor computer chips with the goal of reducing U.S. dependence on overseas chip manufacturers.
(Btw--The Editorial in the OP is dated March 20th. Why was there a 12-day wait before this pressing issue of national importance was brought to the attention of the forum?)

 

Not sure I'm buying this, do you have anything showing the US government "giving" Halliburton that size of "gift"?

 

lol what’s funny is Cruz voted against it

 

Funding intel is funding infrastructure. We support Boeing etc too.

We do this because Intel is one of the only producers of microprocessors etc on the planet and the only one domestically producing at the time (as I recall Nvidia has plans for domestic production but won't get there for a few years).

Microchips go in everything from dildos, toothbrushes, cars and planes to missiles and artillery, tanks and bombs.
Most of the other sources are a) chinese or b) taiwanese.
This is basic infrastructure spending, complain about something valid.

 

This makes perfect sense


if you are a democrat.

 

My god……doesnt anyone remember in 2018 when Trump started a trade war with China ? Remember when Trump refused to allow Intel to send parts to fix their machines and purposely inflated the chip crises ? Well….the chickens are home to roost. NOW we have to help the US manufacturers because they didnt invest in growth because they couldnt sell their parts to the largest manufacturers in the world. Chickens…meet the roost…..

NOW…..China has inflated the war and they arent giving an inch. And we cant fight back because the “great negotiator” screwed us for years to come. Now we are MORE dependent on China, just like anyone with half a brain said in 2018 when Trump did this.

 

The article stated: "Make it make sense!"

That would be the adults running the world. You couldn't figure that out? If you can't figure it out then sorry, not sorry.

 

I believe your misremembering again.... https://www.reuters.com/technology/...s-sales-chinas-huawei-sources-say-2024-03-12/
"But in late 2020, just before former President Donald Trump left office, the Commerce Department granted some U.S. Huawei suppliers -- including Intel -- special permission to sell certain items to the telecoms equipment giant.
AMD applied for a license to sell similar chips in early 2021 after President Joe Biden took office but never received a response to its application, a source said."

 

Now on to your exaggerated "trade war", are talking about sanctions due to the ridiculous trade deficit with China, that just so happens to use slave labor? First question is why are you supporting the use of trade with countries using slave labor as a democrat and two do you remember Biden reversing those tariffs? Oh, that's right he didn't. lol

 

You may want to debate what I said.......

 

again, debate what I said

The trade war caused US manufacturers of chips and parts to limit their production......

 

The value is in more than just the jobs it is creating. Semiconductors are in just about everything we buy that contains electronics from tvs to cars to electronic toothbrushes. Our economy deletes on them. And the vast majority of semiconductors come from Taiwan—a country that China has repeatedly threatened to invade.

Increasing the production of semiconductors in American soil is a national security issue. The jobs intel will create are just a bonus.

 

Cause AMD sucks. Their chips are garbage.

 

Cleary you don't known the HOW the chicoms took the chip industry from the U.S.

 

The whataboutisms from the left came fast and furious i this thread.

Not like they had any other option but still....

But I haven't seen much condemning from the left....the hypocrisy is still strong with the left.

 

Right. Because republicans want to rely on China for computer chips.

 

And suddenly the US producing their own electronic chips is not important

 

A number of Republicans voted against the infrastructure act, yet gave themselves praise after it passed.

 

I don't care if it costs a million per job. Having the ability to make chips domestically is beyond a price.

 

Yes but is also beyond the IQ of 99.9% of all Americans. One of the reasons that Asia has chip manufacturing is that they have an order of magnitude more high IQ citizens. The other reason is that though the job is highly paid it is also kind of crappy for very highly intelligent people with unlimited options.

In the end though chip manufacturing is close to the whole ball game. If you own the brain center for all equipment and weaponry manufactured in the world, you kind of own the world. If we want to move CHIP manufacturing here, we may have hundreds of thousands of high IQ Chinese to do the intellectual heavy lifting. The issue of dual loyalty could then become a problem.





https://marginalrevolution.com/marg.../the-extreme-shortage-of-high-iq-workers.html

https://www.asianometry.com/p/will-young-americans-want-to-work

 

do you understand which political party and environmentalists drove out the fabricators from the USA? THis was caused in part by the Democrat party and now here they are saying that we need taxpayer dollars to fix the truck-up that we caused. And you cheer it