tech
An AI Tax Could Be the Great Equalizer America Needs
An idea that until recently would have been seen as radical—that the public should co-own AI—now commands bipartisan consensus.
TL;DR
- Senator Bernie Sanders introduced the American AI Sovereign Wealth Fund Act, proposing an AI tax for public co-ownership of AI companies.
- The bill suggests major AI companies owe the public half their AI business equity, paid in newly issued shares.
- Sam Altman and Donald Trump are reportedly considering voluntary AI sovereign wealth funds, offering stakes to the government.
- An AI equity tax is presented as the superior method for securing public co-ownership due to its mandatory nature.
- A national poll indicates 69% of Americans favor requiring large AI companies to transfer half their stock into a public sovereign wealth fund.
- The current debate centers on the terms of public co-ownership, including the amount, contributors, and enforceability.
- Deals negotiated by the Trump administration have resulted in equity stakes belonging to the administration rather than directly to citizens.
- Altman's proposed 5% stake for the administration is seen as a strategic move to clear political obstacles, but could be revocable.
- Sanders' AI equity tax mandates payouts to each American, with estimated annual distributions of $1,045 per person.
- The success of Sanders' AI equity tax may depend on the midterm election results.