Conservative host slams Trump admin idea of US equity stake in Intel as socialism

Conservative talk radio host Erick Erickson is no fan of the government potentially taking an equity stake in computer chip manufacturer Intel, declaring the idea to be “socialism” in a scathing rant.

During a Tuesday CNBC appearance, Treasury Secretary Howard Lutnick suggested that the troubled tech giant should have to give the federal government part of the company in exchange for money from disgraced former President Joe Biden’s CHIPS Act that doles out tens of billions to boost domestic semiconductor manufacturing.

“We should get an equity stake for our money,” Lutnick said during his “Squawk on the Street” appearance. “So we’ll deliver the money, which was already committed under the Biden administration. We’ll get equity in return for it.”

Erickson went off on the idea during the latest edition of “The Erick Erickson Show,” during which the longtime Trump critic also likened Lutnick to New York City mayoral hopeful Zohran Mamdani, a left-wing radical who has pledged to implement communist policies in Gotham if he wins November’s election.

So many of you were opposed to Mamdani wanting to seize the means of production in New York City, but are totally fine with Trump’s Commerce Secretary wanting the US government to become the largest shareholder of Intel. This is socialism with an R next to its name. pic.twitter.com/WOjOGvIOpO

— Erick Erickson (@EWErickson) August 19, 2025

“The commerce secretary said Tuesday Intel must give the United States government an equity stake in the company in return for CHIPS Act funds. ‘We should get an equity stake for our money. So we’ll deliver the money, which was already committed under the Biden administration, we’ll get equity in return for it,’” he said. “I’m sorry, but no, this is terrible. This is socialism.”

Erickson rejected the suggestion that a federal stake in Intel would be in the interests of national security and that the government has not taken similar stakes in other big defense and technology companies.

“But you want ten percent control of Intel in exchange for money the government already promised to give them? That’s socialism,” he declared. “You may be comfortable with socialism, you may decide you like socialism because someone from the Trump administration wants socialism, but my God, people, what have we been fighting for for the last decade?”

“You want smaller government? This expands it. You want the government not to go woke? Well, what happens when the Democrats get in charge and they become the largest shareholder of Intel?” Erickson asked, warning of the potential for abuse when the Democrats regain power. “Good luck stopping that from happening. You know there’s no such thing as permanence in politics in the United States of America, you’re not gonna stop a Democrat from one day winning reelection or getting into the White House.”

Later in his rant, Erickson compared the Treasury secretary to the “communist lunatic” who is on the brink of taking control of the nation’s largest city.

“This is a horrible precedent, this is socialism,” he told his audience. “All of you people were freaked out about Mamdani in New York City wanting government-run grocery stores and saying the people need to seize the means of production.”

“That’s what Howard Lutnick is doing right now, saying that the government must seize the controlling interest in Intel, the means of production, in order to get government money,” Erickson continued.  “You can’t just be against socialism when the left does it, if you’re not against socialism overall, guess what? You’re going to get socialism. So if you support socialism, apparently Donald Trump is your guy.”

“He’s now becoming a socialist administration if Howard Lutnick gets his way. Howard Lutnick wanted the tariffs on everybody,” Erickson raved. “Howard Lutnick wants socialism. Howard Lutnick wants the government to interfere in the private sector economy.”

Seeming to lend credence to Erickson’s take was the endorsement of America’s foremost socialist, Sen. Bernie Sanders (I-VT), who expressed his support for the idea.

“I am glad the Trump administration is in agreement with the amendment I offered three years ago to the CHIPS Act,” Comrade Bernie said in a statement, according to The Hill. “No. Taxpayers should not be providing billions of dollars in corporate welfare to large, profitable corporations like Intel without getting anything in return.”

“If microchip companies make a profit from the generous grants they receive from the federal government, the taxpayers of America have a right to a reasonable return on that investment,” Sanders added.