Bernie Sanders proposes 50% stock tax on AI companies to create $7 trillion public wealth fund
By
Joey Cappelletti
Pulled from the oven just right. Trustworthy, fact-dense, deeply satisfying.
Summary
Sen. Bernie Sanders has proposed legislation to create a sovereign wealth fund financed by a one-time 50% tax on the stock of the largest AI companies. The fund, estimated at nearly $7 trillion, would be overseen by an independent commission and provide annual payments to Americans, giving the public ownership stakes and decision-making power in major AI companies. The proposal goes beyond similar ideas backed by President Trump and AI executives by including public governance rights.
Key quotes
· 3 pulledThe legislation, shown first to The Associated Press, would create a sovereign wealth fund overseen by an independent commission and financed through a one-time 50% tax on the stock of the largest AI companies.
Sanders estimates that the tax would create a nearly $7 trillion fund that would generate hundreds of billions of dollars in annual returns for the American people.
While the idea of public ownership of AI companies has been backed by President Donald Trump and AI executives, Sanders' proposal goes far beyond that, with the public having decision-making power in the companies.
You might also wanna read
Bernie Sanders Argues for Public Ownership of Half of Major AI Companies
Senator Bernie Sanders argues that AI will be the most transformational technology in history, with profound impacts on the economy, democra
sanders.senate.gov·14d ago
Norway's $2 Trillion Wealth Fund to Support Human Rights Report Proposal at Microsoft AGM, Oppose CEO's Board Chair Role and Pay Package
Norway's $2 trillion sovereign wealth fund will vote in favor of a shareholder proposal at Microsoft's AGM requiring a report on human right
cnbc.com·6mo ago