via Jacobin I by Julia Rock and David Sirota I March 3, 2022

Intel Wants Public Money to Make Rich Shareholders Richer

“[The companies lobbying on this] say they need the subsidies to give them an incentive to invest,” said William Lazonick, professor emeritus of economics at University of Massachusetts, who coauthored the study on semiconductor industry buybacks. “Well, the companies that are lobbying on this have spent multiples of that $52 billion on buybacks.”

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