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(CNBC)   Senate set to pass bill on bipartisan basis. You guessed it: it's a quarter trillion corporate giveaway   (cnbc.com) divider line
    More: Asinine, Democratic Party, Joe Biden, United States Senate, United States, Soviet Union, Communist Party of China, largest industrial bills, U.S. history  
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1540 clicks; posted to Politics » on 09 Jun 2021 at 10:23 AM (6 days ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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6 days ago  
The Senate is set this week to pass one of the largest industrial bills in U.S. history to bulk up the nation's technology manufacturing in an effort to match competition from China.

How is this Asinine?  The Asia Pacific accounts for nearly 60% of global semiconductor sales, within which China alone accounts for over 30%.  Other technology also is mostly sourced to China and other Asian countries.  Semiconductor growth is expected to be 12.5% over last year.  And the need for chips isn't going to slow down. Almost every consumer product that runs off of electricity has some piece of silicon in it.  And it's not only pieces of silicon, it's resistors, capacitors and other discreet components.
 
6 days ago  

Merltech: How is this Asinine?


Fark user imageView Full Size


NewFark: increasing productivity and international competitiveness bad, forgiving student loans, making policy choices that will result in the replacement of labor with capital good.

/I realize they're not mutually exclusive but subby is a doofus.
 
6 days ago  

Byno: Merltech: How is this Asinine?

[Fark user image 259x194]

NewFark: increasing productivity and international competitiveness bad, forgiving student loans, making policy choices that will result in the replacement of labor with capital good.

/I realize they're not mutually exclusive but subby is a doofus.


But he/she/? got a greenlite.
 
6 days ago  

Merltech: The Senate is set this week to pass one of the largest industrial bills in U.S. history to bulk up the nation's technology manufacturing in an effort to match competition from China.

How is this Asinine?  The Asia Pacific accounts for nearly 60% of global semiconductor sales, within which China alone accounts for over 30%.  Other technology also is mostly sourced to China and other Asian countries.  Semiconductor growth is expected to be 12.5% over last year.  And the need for chips isn't going to slow down. Almost every consumer product that runs off of electricity has some piece of silicon in it.  And it's not only pieces of silicon, it's resistors, capacitors and other discreet components.


Not to mention it looks like about a third of that money is going to the NSF, more than doubling its budget for 5 years.


//NSF:  not a corporation
 
6 days ago  

Byno: Merltech: How is this Asinine?

[Fark user image 259x194]

NewFark: increasing productivity and international competitiveness bad, forgiving student loans, making policy choices that will result in the replacement of labor with capital good.

/I realize they're not mutually exclusive but subby is a doofus.


Why the f*ck are you bringing up student loan forgiveness?
 
6 days ago  
If you really want to piss off China without spending a lot of money, just invite Taiwan to become a state.

That should be fun.
 
6 days ago  

raerae1980: Byno: Merltech: How is this Asinine?

[Fark user image 259x194]

NewFark: increasing productivity and international competitiveness bad, forgiving student loans, making policy choices that will result in the replacement of labor with capital good.

/I realize they're not mutually exclusive but subby is a doofus.

Why the f*ck are you bringing up student loan forgiveness?


Because it he needs to stick it to anyone under 40 at all times as he's just an embarrassed Republican.
 
6 days ago  

thatboyoverthere: raerae1980: Byno: Merltech: How is this Asinine?

[Fark user image 259x194]

NewFark: increasing productivity and international competitiveness bad, forgiving student loans, making policy choices that will result in the replacement of labor with capital good.

/I realize they're not mutually exclusive but subby is a doofus.

Why the f*ck are you bringing up student loan forgiveness?

Because it he needs to stick it to anyone under 40 at all times as he's just an embarrassed Republican.


While that may be......I may have been too salty in my response.   It stuck a nerve (._. )
 
6 days ago  
"The bill, expected to easily clear the upper chamber with support from Republicans and Democrats, includes tens of billions of dollars for scientific research, subsidies for chipmakers and robot makers, and an overhaul of the National Science Foundation."

I'm ok with this.
 
6 days ago  

Merltech: The Senate is set this week to pass one of the largest industrial bills in U.S. history to bulk up the nation's technology manufacturing in an effort to match competition from China.

How is this Asinine?  The Asia Pacific accounts for nearly 60% of global semiconductor sales, within which China alone accounts for over 30%.  Other technology also is mostly sourced to China and other Asian countries.  Semiconductor growth is expected to be 12.5% over last year.  And the need for chips isn't going to slow down. Almost every consumer product that runs off of electricity has some piece of silicon in it.  And it's not only pieces of silicon, it's resistors, capacitors and other discreet components.


I'd agree, but likely it will end up like most corporate giveaways: lining rich people's pockets in stock buybacks or similar grift. That's the problem, and that's why you'll see people complain. Unless there is something in this bill that will enact a corporate death penalty, and fine the officers of the company directly, odds are much of this will just end up grift.
 
6 days ago  

raerae1980: Byno: Merltech: How is this Asinine?

[Fark user image 259x194]

NewFark: increasing productivity and international competitiveness bad, forgiving student loans, making policy choices that will result in the replacement of labor with capital good.

/I realize they're not mutually exclusive but subby is a doofus.

Why the f*ck are you bringing up student loan forgiveness?


Because that's the kind of spending that isn't "ASININE".
 
6 days ago  

Destructor: If you really want to piss off China without spending a lot of money, just invite Taiwan to become a state.

That should be fun.


Well if your end goal is stigginit and scoring points with the MAGA mouthbreathers, suggesting Taiwanese statehood is a great plan.

Otherwise, not seeing a huge issue with this bill
 
6 days ago  
I thought American manufacturing was back when Trump brought Foxconn to Wisconsin?

(j/k I know it's an empty building)
 
6 days ago  

Merltech: The Senate is set this week to pass one of the largest industrial bills in U.S. history to bulk up the nation's technology manufacturing in an effort to match competition from China.

How is this Asinine?  The Asia Pacific accounts for nearly 60% of global semiconductor sales, within which China alone accounts for over 30%.  Other technology also is mostly sourced to China and other Asian countries.  Semiconductor growth is expected to be 12.5% over last year.  And the need for chips isn't going to slow down. Almost every consumer product that runs off of electricity has some piece of silicon in it.  And it's not only pieces of silicon, it's resistors, capacitors and other discreet components.


It's not asinine. It's just that this site is getting dumber by the day.
 
6 days ago  

Merltech: The Senate is set this week to pass one of the largest industrial bills in U.S. history to bulk up the nation's technology manufacturing in an effort to match competition from China.

How is this Asinine?  The Asia Pacific accounts for nearly 60% of global semiconductor sales, within which China alone accounts for over 30%.  Other technology also is mostly sourced to China and other Asian countries.  Semiconductor growth is expected to be 12.5% over last year.  And the need for chips isn't going to slow down. Almost every consumer product that runs off of electricity has some piece of silicon in it.  And it's not only pieces of silicon, it's resistors, capacitors and other discreet components.


Soon the Senate will be erasing that one pesky impediment to slave labor to help keep domestic costs down.
 
6 days ago  

Merltech: The Senate is set this week to pass one of the largest industrial bills in U.S. history to bulk up the nation's technology manufacturing in an effort to match competition from China.

How is this Asinine?  The Asia Pacific accounts for nearly 60% of global semiconductor sales, within which China alone accounts for over 30%.  Other technology also is mostly sourced to China and other Asian countries.  Semiconductor growth is expected to be 12.5% over last year.  And the need for chips isn't going to slow down. Almost every consumer product that runs off of electricity has some piece of silicon in it.  And it's not only pieces of silicon, it's resistors, capacitors and other discreet components.


Yeah, but the reason lithium and rare earth metals come mostly from China is the horrifying ecological toll mining then takes. So, increasing our production is going to be crazy expensive, and then I'd wager the mining companies will not be the most responsible stewards of the land.

Also, do we have many deposits of anything good?
 
6 days ago  
The Dems want it for the good jobs and the aid to the National Science Foundation.

The GOP wants it for sticking it to the Chinese for the virus.

'Real America' used to care about jobs.

Now all they have is hate.
 
6 days ago  
..could've also passed TPP 4 years ago
 
6 days ago  

Fart_Machine: "The bill, expected to easily clear the upper chamber with support from Republicans and Democrats, includes tens of billions of dollars for scientific research, subsidies for chipmakers and robot makers, and an overhaul of the National Science Foundation."

I'm ok with this.


You know, I'm ok with the research funding. I'd probably even be on-board with the National Science Foundation items. What I've learned over the past 50 years is that giving money to corporations directly is usually a complete waste of taxpayer money. They usually pocket that money, grifting it to the C Levels and so on.
 
6 days ago  
These are exactly the kinds of bills the government should be passing.   I just wrote a proposal for half a million in government cheese to build out some technology to make railroad grade crossings safer and more efficient.   That opportunity wouldn't exist if it weren't for the infrastructure investment by the fed.

I am sure there is a tax cut buried in there somewhere, but so long as it isn't the goal of the bill, we need more of this.
 
6 days ago  
America is gonna invest in R&D?
Awesome.
Right up until China steals the IP.
Still a good idea.
 
6 days ago  
Anything that tells China to GFY is it's own good enough reason to do it.

The time is rapidly approaching where the US can't rely on China to provide all it's Dollar Tree crap any longer. China is obviously planning to swallow up the whole Asian sector of the planet in one shocking Blitzkrieg, putting it's new borders right up against Japanese territorial waters, then looking at Japan the same way Putin is looking at the Ukraine.

When that time comes, we'd better be ready with our own strong & domestic tech base, because that's going to be one really intense Cold War.
 
6 days ago  

The Bestest: ..could've also passed TPP 4 years ago


Not participating in the TPP was the only thing Trump did that was right.
 
6 days ago  
 
6 days ago  
is this the bill that gives Bezos $10 billion to play astronaut
 
6 days ago  
The senate already passed the bill and Fark already had a thread on the corporate handout.

To repeat: We can give $250b to corporations but we can't raise the minimum wage or legalize pot. Good job, Democrats.
 
6 days ago  

Natalie Portmanteau: Merltech: The Senate is set this week to pass one of the largest industrial bills in U.S. history to bulk up the nation's technology manufacturing in an effort to match competition from China.

How is this Asinine?  The Asia Pacific accounts for nearly 60% of global semiconductor sales, within which China alone accounts for over 30%.  Other technology also is mostly sourced to China and other Asian countries.  Semiconductor growth is expected to be 12.5% over last year.  And the need for chips isn't going to slow down. Almost every consumer product that runs off of electricity has some piece of silicon in it.  And it's not only pieces of silicon, it's resistors, capacitors and other discreet components.

Yeah, but the reason lithium and rare earth metals come mostly from China is the horrifying ecological toll mining then takes. So, increasing our production is going to be crazy expensive, and then I'd wager the mining companies will not be the most responsible stewards of the land.

Also, do we have many deposits of anything good?


In theory, as always the question is cost, and China's lack of environmental regulations and cheap labor means they gleefully dominate while polluting their own environment.

Biden's announcement on supply chain issues and bringing them home to the US included funding for investigating how we can provide our own.

It's also part of his infrastructure plan, though we'll see what that finally looks like when it gets past.    

But at least they are aware of the problem and have targeted it.   Let's hope it can move forward.   As it is also part of stigginit, they might actually get some more assistance from the RWNJs in congress.
 
6 days ago  
So American industry admits they cannot innovate, build or meet consumer needs without help from government.

conservativenewager.files.wordpress.comView Full Size
 
6 days ago  

Destructor: If you really want to piss off China without spending a lot of money, just invite Taiwan to become a state.

That should be fun.


User name checks out gloriously.
 
6 days ago  
Anything that passes bipartisan these days is either: meaningless, a corporate handout, or both.

Things that would help regular Americans like raising the minimum wage, equal pay, voting rights, etc. are rejected by the party of stigginit.
 
6 days ago  
The main problem with this sort of corporate giveaway is that the tax breaks for research and development mostly will go for stuff that the companies were going to do anyways.  If it actually encouraged more investment, that's one thing, but I doubt it will do much of that.
 
6 days ago  

Rent Party: The Bestest: ..could've also passed TPP 4 years ago

Not participating in the TPP was the only thing Trump did that was right.


TPP would've been a net positive for the US and consumers. Yes, there were some undesirable provisions included to ensure it got corporate backing, but nothing that couldn't have been mitigated by legislation afterward, and as a whole would have had a much greater effect on curbing Chinese economic aggression than any tariffs.

Objection to it was throwing the baby out with the bathwater.
 
6 days ago  

HotWingConspiracy: So American industry admits they cannot innovate, build or meet consumer needs without help from government.

[conservativenewager.files.wordpress.c​om image 480x370]


It's like grandad always said: socialize the R&D, but privatize the profits.
 
6 days ago  

DarnoKonrad: You know why we moved semiconductor production to china?


It's still a problem over there too.


My friend Joe (Zhen Chao) could tell you about the black rivers they dyed blue for the Olympics, after shutting down the factories. Yes, it's pretty nasty and one reason the companies are there instead of here where they have to follow environmental regulations.

However I see this becoming another series of Foxconn deals. I guess, if we want to look at the positive side, at least this time it will likely be American corporations stealing taxpayer money while not delivering.
 
6 days ago  

Natalie Portmanteau: Merltech: The Senate is set this week to pass one of the largest industrial bills in U.S. history to bulk up the nation's technology manufacturing in an effort to match competition from China.

How is this Asinine?  The Asia Pacific accounts for nearly 60% of global semiconductor sales, within which China alone accounts for over 30%.  Other technology also is mostly sourced to China and other Asian countries.  Semiconductor growth is expected to be 12.5% over last year.  And the need for chips isn't going to slow down. Almost every consumer product that runs off of electricity has some piece of silicon in it.  And it's not only pieces of silicon, it's resistors, capacitors and other discreet components.

Yeah, but the reason lithium and rare earth metals come mostly from China is the horrifying ecological toll mining then takes. So, increasing our production is going to be crazy expensive, and then I'd wager the mining companies will not be the most responsible stewards of the land.

Also, do we have many deposits of anything good?


We're apparently looking into other ways of harvesting them.
 
6 days ago  

xanadian: Merltech: The Senate is set this week to pass one of the largest industrial bills in U.S. history to bulk up the nation's technology manufacturing in an effort to match competition from China.

How is this Asinine?  The Asia Pacific accounts for nearly 60% of global semiconductor sales, within which China alone accounts for over 30%.  Other technology also is mostly sourced to China and other Asian countries.  Semiconductor growth is expected to be 12.5% over last year.  And the need for chips isn't going to slow down. Almost every consumer product that runs off of electricity has some piece of silicon in it.  And it's not only pieces of silicon, it's resistors, capacitors and other discreet components.

Not to mention it looks like about a third of that money is going to the NSF, more than doubling its budget for 5 years.


//NSF:  not a corporation


Why are we funding the National Secessionist Forces?
 
6 days ago  

The Bestest: Rent Party: The Bestest: ..could've also passed TPP 4 years ago

Not participating in the TPP was the only thing Trump did that was right.

TPP would've been a net positive for the US and consumers. Yes, there were some undesirable provisions included to ensure it got corporate backing, but nothing that couldn't have been mitigated by legislation afterward, and as a whole would have had a much greater effect on curbing Chinese economic aggression than any tariffs.

Objection to it was throwing the baby out with the bathwater.


TPP was a pushback to China's growing economic power and Trump rejecting it may well have been the worst thing he did in office.
 
6 days ago  

HotWingConspiracy: So American industry admits they cannot innovate, build or meet consumer needs without help from government.

[conservativenewager.files.wordpress.c​om image 480x370]


Heavens no! They just want to grift some money from the taxpayer. I mean, free money. Why don't poor people do this too? They must like being poor.
 
6 days ago  

The Bestest: Rent Party: The Bestest: ..could've also passed TPP 4 years ago

Not participating in the TPP was the only thing Trump did that was right.

TPP would've been a net positive for the US and consumers. Yes, there were some undesirable provisions included to ensure it got corporate backing, but nothing that couldn't have been mitigated by legislation afterward, and as a whole would have had a much greater effect on curbing Chinese economic aggression than any tariffs.

Objection to it was throwing the baby out with the bathwater.


It's OK when Democrats demonize China. When Trump does it, it's racism.
 
6 days ago  

ElwoodCuse: is this the bill that gives Bezos $10 billion to play astronaut


Yep.

In the version that passed the Senate, lawmakers did leave intact a $10 billion authorization for two lunar lander contracts, a provision that could benefit Blue Origin, the space company founded by Amazon founder Jeff Bezos, who owns The Washington Post. Cantwell, whose committee oversees NASA and helped craft the bill, spearheaded the spending as part of a bipartisan amendment adopted earlier in the debate. Her efforts ignited a controversy because Blue Origin is based in her home state.

Sanders sought to strip the funding, describing it as a "Bezos bailout," but his efforts ultimately did not succeed.
 
6 days ago  
*shakes fist* Big Science wins again!
 
6 days ago  

misanthropicsob: It's OK when Democrats demonize China. When Trump does it, it's racism.


Fark user imageView Full Size
 
6 days ago  

misanthropicsob: The senate already passed the bill and Fark already had a thread on the corporate handout.

To repeat: We can give $250b to corporations but we can't raise the minimum wage or legalize pot. Good job, Democrats. Republicans.


Fixed that for you.

Yes, yes, there are a handful of Democratic Senators that are against these things.  But those two or three Democrats pales to the 50 Republican Senators that are also against these things.

As for the minimum wage specifically, there may be a compromise possible at the $10-11 range, as at least two Republican Senators (and all 50 Democrats) are willing to raise it to that level.  Yes, yes, $10 is definitely inadequate, but in a 50/50 Senate, you need to make some compromises.  If the only available choices are $10-11 or leaving it as is at $7.25, I'll take the $10-11, thank you very much.
 
6 days ago  

Geotpf: misanthropicsob: The senate already passed the bill and Fark already had a thread on the corporate handout.

To repeat: We can give $250b to corporations but we can't raise the minimum wage or legalize pot. Good job, Democrats. Republicans.

Fixed that for you.

Yes, yes, there are a handful of Democratic Senators that are against these things.  But those two or three Democrats pales to the 50 Republican Senators that are also against these things.

As for the minimum wage specifically, there may be a compromise possible at the $10-11 range, as at least two Republican Senators (and all 50 Democrats) are willing to raise it to that level.  Yes, yes, $10 is definitely inadequate, but in a 50/50 Senate, you need to make some compromises.  If the only available choices are $10-11 or leaving it as is at $7.25, I'll take the $10-11, thank you very much.


My statement was also against the $250b handout to corporations which was Democrats near-unanimously voted in favor of.
 
6 days ago  

quatchi: The Bestest: Rent Party: The Bestest: ..could've also passed TPP 4 years ago

Not participating in the TPP was the only thing Trump did that was right.

TPP would've been a net positive for the US and consumers. Yes, there were some undesirable provisions included to ensure it got corporate backing, but nothing that couldn't have been mitigated by legislation afterward, and as a whole would have had a much greater effect on curbing Chinese economic aggression than any tariffs.

Objection to it was throwing the baby out with the bathwater.

TPP was a pushback to China's growing economic power and Trump rejecting it may well have been the worst thing he did in office.


A bad thing?  Yes, definitely.  The worst thing?  The problem is that there are so many choices there that that might be overstating things.
 
6 days ago  

The Bestest: Rent Party: The Bestest: ..could've also passed TPP 4 years ago

Not participating in the TPP was the only thing Trump did that was right.

TPP would've been a net positive for the US and consumers.


Only in the sense that we would have been able to get even more cheap Chinese crap even cheaper.  Other than that, it was an even bigger corporate giveaway not only in terms of cash, but accountability.  It would have removed American corporations from the oversight of the US legal system.

Most people railing against pulling out of the TPP do so because "Trump did it" and therefore it must be bad.   Prior to Trump, when Obama was promoting the TPP, the objections came from the left because of that accountability problem.

Here is Robert Reich explaining why this thing is a turd.

Robert Reich takes on the Trans-Pacific Partnership
Youtube 3O_Sbbeqfdw



Objection to it was throwing the baby out with the bathwater.

Objection to it is well founded and based on sound economic theory.

Objection to pulling out of it is pure TDS.
 
6 days ago  

Natalie Portmanteau: Merltech: The Senate is set this week to pass one of the largest industrial bills in U.S. history to bulk up the nation's technology manufacturing in an effort to match competition from China.

How is this Asinine?  The Asia Pacific accounts for nearly 60% of global semiconductor sales, within which China alone accounts for over 30%.  Other technology also is mostly sourced to China and other Asian countries.  Semiconductor growth is expected to be 12.5% over last year.  And the need for chips isn't going to slow down. Almost every consumer product that runs off of electricity has some piece of silicon in it.  And it's not only pieces of silicon, it's resistors, capacitors and other discreet components.

Yeah, but the reason lithium and rare earth metals come mostly from China is the horrifying ecological toll mining then takes. So, increasing our production is going to be crazy expensive, and then I'd wager the mining companies will not be the most responsible stewards of the land.

Also, do we have many deposits of anything good?


https://graphics.reuters.com/ELECTRIC​-​VEHICLES-METALS/010092JB38P/index.html​

Fark user imageView Full Size
 
6 days ago  

Rent Party: The Bestest: Rent Party: The Bestest: ..could've also passed TPP 4 years ago

Not participating in the TPP was the only thing Trump did that was right.

TPP would've been a net positive for the US and consumers.

Only in the sense that we would have been able to get even more cheap Chinese crap even cheaper.  Other than that, it was an even bigger corporate giveaway not only in terms of cash, but accountability.  It would have removed American corporations from the oversight of the US legal system.

Most people railing against pulling out of the TPP do so because "Trump did it" and therefore it must be bad.   Prior to Trump, when Obama was promoting the TPP, the objections came from the left because of that accountability problem.

Here is Robert Reich explaining why this thing is a turd.

[Youtube-video https://www.youtube.com/embed/3O_Sbbeq​fdw]


Objection to it was throwing the baby out with the bathwater.

Objection to it is well founded and based on sound economic theory.

Objection to pulling out of it is pure TDS.


The thing that most people seemed to object to in the TPP was strengthening IP rights in the other countries to match the USA's.  This is a good thing that would help American companies, so it was a dumb objection.
 
6 days ago  

HotWingConspiracy: So American industry admits they cannot innovate, build or meet consumer needs without help from government.

[conservativenewager.files.wordpress.c​om image 480x370]


Why are you using a cut version of the quote that doesn't clarify he's talking about American infrastructure specifically?  I know you're trying to use it in a GOOD way here, but continuing to spread a version of the quote so close to the one the Republicans have spent YEARS BOLDFACE LYING ABOUT the context of is probably a bad idea.
 
6 days ago  

Fart_Machine: "The bill, expected to easily clear the upper chamber with support from Republicans and Democrats, includes tens of billions of dollars for scientific research, subsidies for chipmakers and robot makers, and an overhaul of the National Science Foundation."

I'm ok with this.


Until large companies (or their owners) like google, amazon, and walmart file some shifty 'claim' that they are totally on this issue, in hopes of getting a free check.... which is exactly why it has bipartisan support. I gaurantee you we'll see in the headlines in a few months "Remember all that money we gave for science research and chips? About that..."

Aside from that, honestly none of this means a damn thing if we can't get the precious minerals required.
 
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