Bernie Sanders wants public to own half of Big AI
What's the story
United States Senator Bernie Sanders has unveiled a radical proposal to give the American public direct ownership of artificial intelligence (AI) companies. The legislation, first reported by The Associated Press, calls for a one-time 50% tax on the stock of the largest AI firms. This would create a sovereign wealth fund worth around $7 trillion, which would be used to make direct payments to Americans and fund programs like healthcare and education.
Tax details
Tax levied on AI companies with $200 million in sales
The proposed 50% tax would be levied on AI companies with $200 million in annual sales. New companies reaching this threshold would also be taxed. The fund would be managed by a seven-member independent commission nominated by the president and confirmed by the Senate. This commission would use its voting shares to block decisions harmful to Americans and advocate for beneficial policies.
Fund utilization
Annual dividend and public goods funding
Sanders's proposal includes a 5% annual dividend from the fund, which would provide over $1,000 in direct payments to every American. If company valuations rise, these gains would be used for public goods such as education and healthcare. Sanders has emphasized that taxpayers wouldn't incur losses if AI company valuations fall. He said, "We're not going to lose any money, even if there is a bust in the bubble."
Diverse opinions
Public stake in corporate decision-making
While President Donald Trump and OpenAI CEO Sam Altman have expressed interest in giving the public a stake in AI, Sanders's proposal goes further. He believes that the public should have a significant role in corporate decision-making to ensure AI benefits ordinary people. "The public has got to have a significant seat at the table to make sure that terrible things do not happen to ordinary people, and that in fact, AI benefits ordinary people, not hurts them," Sanders said.