Bernie Sanders Proposes 50% Tax on AI Profits for Public Sovereign Wealth Fund
By
Victor Tangermann
Front-window bakery material. Catches the eye, delivers the goods.
Summary
Senator Bernie Sanders has proposed a plan to tax 50% of AI industry profits to create an "AI Sovereign Wealth Fund" that would distribute the benefits of AI to the general public. The proposal argues that AI companies have built massive valuations using publicly available creative content for training data without compensating creators, and that the public should share in the resulting wealth. The plan would apply a one-time 50% tax on AI profits to fund public benefits.
Key quotes
· 3 pulledThe hype surrounding generative AI has generated astronomical amounts of value, with tech companies raising tens of billions of dollars
Whether the average Joe will ever directly benefit from all of this is looking dubious at best.
That's despite many of these tools relying on AI models that were trained on the creative output of millions of people, copyright be damned, the vast majority of whom have yet to see a single
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