Bernie Sanders Unveils Plan to Give the Public Direct Ownership of AI Companies
The plan would tax AI stock instead of cash and could create a nearly $7 trillion fund for direct payments and public programs, Sanders said.
- Sen. Bernie Sanders unveiled legislation creating a sovereign wealth fund financed by a one-time 50% stock tax on the largest AI companies, making the American public a major shareholder in these firms.
- Sanders previously drew massive crowds during his "Fighting Oligarchy" tour last year alongside Rep. Alexandria Ocasio-Cortez, tapping into widespread public anxiety about artificial intelligence threatening jobs.
- The fund would generate a nearly $7 trillion pool, with a 5% annual dividend providing more than $1,000 to every American while supporting education, housing, and health care programs.
- President Donald Trump and OpenAI CEO Sam Altman have expressed interest in public stakes, though Sanders argues his proposal differs fundamentally from industry "buy off" schemes offering token profit-sharing.
- A seven-person independent commission, nominated by the president and confirmed by the Senate, would manage the fund and direct it to block decisions harming the American people.
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43 Articles
‘Make AI work for ordinary people’: Bernie Sanders wants to pay you $1,000 every year from a government stake in AI companies
Sen. Bernie Sanders, possibly just like you, has been thinking a lot about AI. The technology has the possibility of reaching into our everyday lives if it hasn’t already, and he wants to make sure Americans get some positive financial impact in addition to any other. “AI and robotics will impact every man, woman, and child in this country,” Sanders said on a phone call with Fortune and other reporters on Thursday, pointing to the predictions th…
Sovereign wealth fund tax on AI companies unveiled by Sanders
Newly released text offers details on legislation from progressive Sen. Bernie Sanders, I-Vt., for the federal government to take a 50 percent share in leading artificial intelligence companies. The text of the as-yet unnumbered bill, released Thursday, would put a one-time tax on AI companies with more than $200 million in annual sales, to be paid in stocks. The resulting sovereign wealth fund would then be used to pay dividends to taxpayers an…
Ars Technica
slashdot.orgBernie Sanders unveils $7 trillion plan to give Americans control of AI industry
Biggest AI firms will likely recoil at Bernie Sanders' AI wealth fund.
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