Morning Joe host Joe Scarborough blasted the Trump administration’s move to take government-owned stakes in major technology companies, accusing Republicans of practicing the same “socialism” they routinely condemn Democrats for supporting.
The Department of Commerce recently announced plans to provide more than $870 million in federal incentives to seven semiconductor manufacturers in exchange for minority equity stakes. The agency’s CHIPS Research and Development Office signed letters of intent to award a combined $874 million under the CHIPS and Science Act.
Calling out the Trump administration’s economic policies
Scarborough seized on the arrangement on MS NOW, arguing that Republicans are focusing on democratic socialists on the left while ignoring the Trump administration’s economic policies.
“Let’s talk about the socialists that no one’s talking about but everybody should be talking about — because socialists are taking over some of the most important companies in America’s economy,” he said.
As co-host Mika Brzezinski discussed the equity stakes, Scarborough responded, “Also known as socialism.”
“This is socialism. This is pre-[Margaret] Thatcher style socialism!” he exclaimed, referring to mid-20th century Britain, adding, “And the great irony: Here you have Republicans, small government Republicans, running up the deficits, the biggest debt ever, crippling this country — not future generations, they’re going to cripple this generation with the biggest budgets ever, the biggest spending ever, the biggest socialized schemes ever.”
Republicans’ hypocrisy
Scarborough also accused Republicans of hypocrisy for attacking Democrats over socialism while embracing government intervention themselves.
“They point at a radical fringe group in the Democratic Party and claim, ‘Oh, this is what Democrats are doing — they’re socialists,’ and yet you actually have Republicans practicing socialism,” he said.
Scarborough then argued the semiconductor agreements are part of a broader pattern.
“First, they practiced socialism with Intel. Then they practiced socialism by forcing other companies to do business with the federal government, or else they’re going to get cut out — and now the same thing here!” he railed. “‘Yeah, you can be involved in the CHIPS Act, but you’ve got to engage in a little act of socialism with us and let us take over stakes in your company.’”
“This is outrageous. Every Republican, every Democrat, every small government conservative should be against this!” he concluded.
