Why I Oppose the “Tik-Tok Ban” Bill

Thanks to Matt Taibbi for wading through this swamp. What’s really in the “Tin-Tok Ban” bill?  Many things that I don’t like.  Read it and weep.  (I subscribe to Matt’s Racket News on Substack.  This is a public article.)

Some excerpts:

The definition of “controlled,” meanwhile, turns out to be a word salad, applying to:

(A) a foreign person that is domiciled in, is headquartered in, has its principal place of business in, or is organized under the laws of a foreign adversary country;

(B) an entity with respect to which a foreign person or combination of foreign persons described in subparagraph (A) directly or indirectly own at least a 20 percent stake; or

(C) a person subject to the direction or control of a foreign person or entity described in subparagraph (A) or (B).

A “foreign adversary controlled application,” in other words, can be any company founded or run by someone living at the wrong foreign address, or containing a small minority ownership stake. Or it can be any company run by someone “subject to the direction” of either of those entities. Or, it’s anything the president says it is. Vague enough?

And this

(click for larger image)

Read the rest here.

Share if you feel like it

About Tony Lima

Retired after teaching economics at California State Univ., East Bay (Hayward, CA). Ph.D., economics, Stanford. Also taught MBA finance at the California University of Management and Technology. Occasionally take on a consulting project if it's interesting. Other interests include wine and technology.