'Not what I voted for': MAGA decries Trump's latest move as 'socialism'

22 August

U.S. President Donald Trump wears a 'Trump Was Right About Everything!' hat, as he makes an announcement on 2026 FIFA World Cup, in the Oval Office at the White House in Washington, D.C., U.S., August 22, 2025. REUTERS/Jonathan Ernst

On Friday, President Donald Trump announced that the U.S. government was now a part-owner of a major publicly traded tech company. The reaction among his base was less than enthusiastic.

Trump announced via his Truth Social platform that as of Friday the U.S. is a multibillion-dollar shareholder in Intel as part of an agreement with CEO Lip-Bu Tan — with the U.S. supposedly paying nothing for its new stake. The announcement notably came roughly two weeks after Trump's angry social media tirade against Tan, in which he demanded that Tan "resign immediately" from his role due to his investments in Chinese tech companies.

"It is my Great Honor to report that the United States of America now fully owns and controls 10% of INTEL, a Great American Company that has an even more incredible future," Trump wrote in his signature style of oddly placed capital letters. "I negotiated this Deal with Lip-Bu Tan, the Highly Respected Chief Executive Officer of the Company. The United States paid nothing for these Shares, and the Shares are now valued at approximately $11 Billion Dollars. This is a great Deal for America and, also, a great Deal for INTEL. Building leading edge Semiconductors and Chips, which is what INTEL does, is fundamental to the future of our Nation. MAKE AMERICA GREAT AGAIN! Thank you for your attention to this matter."

While some of the responses to the Trump administration's post on X announcing the news were complimentary, many replies were deeply critical of the government taking ownership of a private company. One user who described themselves in their bio as a "Constitutional Conservative" wrote: "Not what I voted for. I voted against this specifically." Conservative podcast host @amandatalks_ tweeted: "ngl [not gonna lie] don't love this guys."

"I'm a Republican but I do not agree with this," another user posted. "Government and privately owned businesses should not mix."

"Governments shouldn't own private business," tweeted retired Naval officer Mike Rodman.

Aerospace engineer Michael Heil also weighed in, responding to the White House's post by writing: "Not good. Even partial government ownership of private industry is socialism."

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