Bernie Sanders proposes 50% stock tax on AI companies to create $7 trillion public wealth fund
By
Joey Cappelletti
Summary
Sen. Bernie Sanders has unveiled legislation that would create a sovereign wealth fund financed by a one-time 50% tax on the stock of the largest AI companies, estimated to generate nearly $7 trillion. The fund, overseen by an independent commission, would provide annual payments to Americans and give the public decision-making power in these companies. The proposal goes beyond similar ideas backed by President Trump and AI executives by including public ownership stakes and governance rights.
Source
Twitter / XBernie Sanders proposes 50% stock tax on AI companies to create $7 trillion public wealth fundapnews.comKey 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.
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