Last week, the barefoot boys who run the shoestring operation that is the semiconductor industry, managed to make off with $79 billion of taxpayer cash. They were assisted in this effort by bipartisan majorities in both houses of Congress.
In all fairness, the semiconductor crews have had a pretty rough five years, only making around $250 billion in profits. (RELATED: NORQUIST: Manchin And The Democrats Are Making The IRS More Powerful Than Ever. Here’s How)
The legislation also includes $200 billion to universities and various parts of the federal bureaucracy and is a prime example of why you should view anything “bipartisan’ with some suspicion.
In the Senate, 17 Republicans inexplicably voted for this transgression against taxpayers. In the House, 24 Republicans voted for it. Only one non-Republican Member of Congress – Sen. Bernie Sanders – voted against it.
These votes lead to a few conclusions. First, some legacy Republicans still can’t seem to shed their Pavlovian response to the demands of the American plutocracy. The semiconductor industry did not need this cash; they wanted this cash. They used the fear of communist China and its eventual invasion of Taiwan as a cudgel against the American taxpayer.
Second, despite the noise, progressives