*Sanders Warns Congress Is Working 'Behind Closed Doors' on $50
Billion in Corporate Welfare.*
Including 10 billion for Bezos.
*We're talking about giving $50 billion in corporate welfare with no
strings attached — a blank check — to the highly profitable
microchip industry.*
It makes sense to encourage companies to manufacture chips in the US,
but not with a subsidy. We must stop "rewarding" companies for not
doing some harmful practice. Instead we must punish the ones that do
it.
The traditional way to do this is with a tariff. The World Trade
Organization restricts that — its purpose, from the start, was
to reduce the power that states have over businesses and give
the businesses power over states, and it succeeded. That's
why I call it a business-supremacy treaty.
But there are ways to impose a tariff.
The problem is that when a country applies a tariff to a product that
it does not produce, it only discourages use of the product.
What we
need is a tariff that applies to any given model of imported chips
once some factory in the US produces comparable chips.