Senator Bernie Sanders unveiled a plan to create a $7 trillion sovereign wealth fund by taxing AI company stocks at 50%, distributing annual dividends of over $1,000 to every American. The legislation also establishes a commission to give the public direct influence over corporate decision-making.
Senator Bernie Sanders introduced legislation to create a $7 trillion sovereign wealth fund by imposing a one-time 50% tax on the stock of the largest AI companies. The fund would provide annual dividends of over $1,000 to every American and support public programs like healthcare, education, and housing. A bipartisan Independent Commission for Democratic AI would oversee the fund and have voting shares to block corporate decisions harmful to the public.
Sanders argues that the immense wealth generated by AI should not be concentrated among a few corporations but shared broadly. The tax applies to any AI firm with $200 million or more in annual AI sales, including new firms reaching that threshold. In a meeting with Sam Altman, Sanders remained far apart on how much public stake OpenAI should have, criticizing expectations of transferring less than 50% as greedy.
If passed, the legislation would fundamentally reshape ownership and decision-making in the AI industry. It is expected to face strong opposition from AI companies, and Sanders plans to campaign on the issue, making it a political flashpoint. The proposal sets a significant precedent for public control of AI and wealth redistribution.
Some comments criticize Sanders' plan for interfering with market forces and potentially leading to corruption. Others question his sincerity, citing his age and past legislative failures. Overall, the sentiment is skeptical.