Lutnick Clears Up ‘Socialism’ Rumors
President Trump’s bold decision to secure a 10% stake in Intel—one of America’s largest chipmakers—has stirred fierce debate in Washington. Supporters say it’s a pro-taxpayer, America First strategy, while critics warn it looks like government overreach.
Commerce Secretary: “This Is Trump Protecting Taxpayers”
Commerce Secretary Howard Lutnick told Fox News’s Ingraham Angle that critics, including Sen. Rand Paul (R-Ky.), have it wrong. Paul blasted the move as a “terrible idea” and a “step toward socialism.”
“I think he’s got it backwards,” Lutnick fired back, reminding viewers that Intel already took $11 billion in Biden-era subsidies. Trump’s approach, he said, ensures taxpayers get equity instead of writing blank checks.
“That is not socialism,” Lutnick declared. “That’s the best businessman in America—Donald J. Trump—making a fair deal for the American people.”
GOP Divided Over Trump’s Strategy
Not all Republicans are on board. Sen. Thom Tillis (R-N.C.) said the government owning part of Intel makes him “uncomfortable,” comparing it to a Soviet-style model.
Former Vice President Mike Pence also voiced unease, while former Trump adviser Larry Kudlow admitted he was “very, very uncomfortable” with government ownership—even as he acknowledged that Trump’s move differs sharply from Biden’s subsidies.
Left-Wing Praise for Trump Deal
In a rare twist, Sen. Bernie Sanders (I-Vt.) cheered the decision. Sanders said taxpayers “have a right to a reasonable return” after funding America’s semiconductor industry for years. Even Democrats, usually hostile to Trump, are conceding this deal favors ordinary Americans.
The Takeaway: Trump Puts America First
While critics scream “socialism,” Trump’s backers argue this is smart, conservative economics. Instead of Biden’s handouts, Trump is demanding real returns for hardworking taxpayers. For many conservatives, that’s proof once again that Trump is fighting for Main Street—not corporate boardrooms or D.C. elites.
