this post was submitted on 20 Apr 2024
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If the government can just point at a company and force a fire sale then there is no market, there is no order, there is no financial industry. This is an incredibly dangerous law.
The government absolutely has unconditional and unlimited authority to restrict enemy states from ownership of anything in the US they want to.
There is absolutely no possibility of any Constitutional issue. The government has explicit authority to handle anything they want about international commerce in the Constitution.
That's why they're having to pass this law I guess then? Because they already have the authority to do the thing they're trying to make the law to get the authority to do?
And TikTok isn't owned by China. It's owned by ByteDance, a MultiNational Corp with Chinese ties. It's not operated out of China, Tiktok is operated out of Singapore and Los Angeles.
And what exactly is the security concern of people making funny cat videos? Nobody is saying the government has to put Tiktok on government computers. So what exactly is the exposure here that trumps the first amendment and prohibition on bills of attainder in the US?
To your first point, yes, exactly. Congress mostly has to pass bills to exercise their power. For example: they have the authority to decide finances. They pass bills to (barely) get that done.
You're not wrong but even if this was a standing authority being used in the same way as passing the budget, it would be illegal because it targets a single entity by design. The Constitution prohibits that which is why laws are written as behavior rules you have to violate and then the government proves you violated them in court. Just declaring a company or person persona non grata is something our founders specifically prohibited.