Efforts by Donald Trump to de facto nationalize a part of the chipmaking company Intel are being met by stiff resistance and confusion from his conservative base. Senator Rand Paul (R-KY) said of Trump’s plan to purchase 10% of the company, “If socialism is government owning the means of production, wouldn’t the government owning part of Intel be a step toward socialism? Terrible idea.”
Trump said of the plan, “The United States paid nothing for these Shares, and the Shares are now valued at approximately $11 Billion Dollars. This is a great Deal for America and, also, a great Deal for INTEL. Building leading edge Semiconductors and Chips, which is what INTEL does, is fundamental to the future of our Nation…”
Trump Moves Forward with Deal for U.S Government to Acquire Stake in Tech Giant Intel– slaynews.com
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Excerpt:
President Donald Trump is moving forward with plans for the U.S. federal government to invest in the computer company Intel.
However, the move has led to backlash from some free-market Republicans.
A handful of Republican senators have voiced complaints about Trump’s move to give the U.S. a 10% stake in the company.
Intel was once the top American chipmaker before falling into decline.
In a post on X, Senator Rand Paul (R-KY) wrote:
“If socialism is government owning the means of production, wouldn’t the government owning part of Intel be a step toward socialism? Terrible idea.”
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