Taxpayer investment in private firms needs to come with dividends for taxpayers.
US to award Samsung up to $6.6 billion chip subsidy for Texas expansion, sources say
Submitted 10 months ago by Xatolos@reddthat.com to technology@lemmy.world
Comments
isles@lemmy.world 10 months ago
bamboo@lemm.ee 10 months ago
Yeah it’s wild that the US government will fund private projects without getting the same bonds or shares that private investors would expect.
BombOmOm@lemmy.world 10 months ago
Growth in an industry drives tax growth, job growth, and wage growth. Furthermore initiatives like this one insulate the country from strategic holes. The US goverment and tax payers most certainly get dividends on investment.
FenrirIII@lemmy.world 10 months ago
Growth in an industry drives tax growth, job growth, and wage growth.
That’s some bullshit. These places will pay no taxes, create the most minimal of jobs, and pay next to nothing. Then, when their tax breaks run out, they pack up and move to the next tax break.
Furthermore initiatives like this one insulate the country from strategic holes. The US goverment and tax payers most certainly get dividends on investment.
Someone is profiting from this, but isn’t the taxpayers.
AshMan85@lemmy.world 10 months ago
would be good if it were any where but texas!
le_saucisson_masquay@sh.itjust.works 10 months ago
cnbc.com/…/samsung-q1-2024-earnings-guidance-memo…
Samsung expects first-quarter profit to soar 931% as memory chip prices rebound
sus@programming.dev 10 months ago
it soars because the profit was near zero before and is now returning to “normal” (their competitor SK hynix made a 5 billion operating loss in one quarter last year)
reagansrottencorpse@lemmy.ml 10 months ago
Why would we subsidize putting something so “mission critical” in a state openly calling to secede?
SuperSynthia@lemmy.world 10 months ago
A lot of it has to do with Texas having the Gulf of Mexico ports all along the coast. It’s a big reason petrochemical refining is so big in Texas. Another plus for Texas is it’s abundance of land they can either buy or imminent domain. Now don’t get me wrong I’m not a Texas supporter, but it’s just one of those location based decisions I’m sure.
Not to mention if your a business in Texas you usually only get slaps on the wrist when you poison the environment. Worker safety? Mostly dependent on company policy with the main focus just barely making OSHA compliance. If the fine is cheaper than compliance, a lot of companies just pay the fine if it happens.
wizardbeard@lemmy.dbzer0.com 10 months ago
Because they’ve been grumbling about that forever and it will never happen unless the US government just up and loses its military.
There will never be the political and populace buy in for something like that to ever end as more than a compound of political extremists getting wiped out by the national guard.
Woozythebear@lemmy.world 10 months ago
The majority of the people in the military would be fighting with Texas. Our military is about as right wing as you can get.
vanderbilt@lemmy.world 10 months ago
There isn’t a snowball’s chance in hell they’ll be allowed to that’s why. In the Texas panhandle is the Pantex plant, which services the military’s nuclear warheads. You saw what Uncle Sam did to the people who touched his boats, now try touching his nukes.