Why a U.S. Sovereign Wealth Fund Is a Terrible Idea After the Intel Deal.
(ThyBlackMan.com) When President Donald Trump announced in August that the federal government took an equity stake in Intel, he bragged that taxpayers had “paid zero” for part of a company now “worth $11 billion.” In reality, taxpayers paid plenty: $8.9 billion in subsidies with potentially more to come. The government simply dressed up the giveaway as an investment, which some leaders see as only the beginning. If you’re not deafened by Commerce Secretary Howard Lutnick’s cheers, you’ll hear economists from […]