Chip Act of Taiwan

Ok, so the USA has passed the US Chips and Science Act to make computer chips in the US.

This is supposed to help the economy by making the US a major chip manufacturer.

But first!

Taiwan makes 28 percent of the chips of the world

S. Korea is second with 22 percent.

And of course China, but wait

the list goes

1. Taiwan

2. South Korea

3. Japan

4. United States

5. China

So we have this Chips Act or CA.

The CA is giving, yes, giving companies money to make chips in the United States.

39,000,000,000 US Dollars

or

39 BILLION Dollars to make computer chips in the US.

Two weeks ago the CA awarded Intel with 8 Billion dollars to make plants in the US.

That's an 8 with 9 zeros after it.

Then last week Intel had their earning report for last year.

GET THIS.

Last year Intel LOST yes, LOST 7 Billion dollars. Yep, their accounts were 8 Billion dollars in the red.

OH!

The year before that they lost 5 Billion dollars as well.

And the CA just gave them more money to loose. They obviously needed it.

So Now we fast forward to the day after the eclipse.

The CA just announce that they are giving TSMC 6.6 Billion dollars. I'm glad I can spell billion, because that many zeros might have broken my keyboard.

So who is TSMC?

Glad you asked.

TSMC is the largest chip manufacturer in the world.

They just got free money from a lagging economy to make chips in Arizona.

Yes, they already are making chips in AZ. in fact they have two plants there already.

So you  mihgt ask, why give them money?

Exactly!!!!! Wait what does TSMC stand for?

Taiwan Semiconductor Manufacturing Company Limited

Yes, we just gave 6.6 BILLION DOLLARS to Taiwan to make chips in the US in factories they will either make or already have.

Did we just give a foreign company a ton of money? Are they going to create jobs? Will automatic coffee makers and phones be cheaper?

Will your taxes go up on things we don't need?

Will people vote to change things?

NO! Don't do it! Don't vote for change.

Remember Congress doesn't have term limits.