The Vermont democratic socialist introduced a bill Thursday where leading AI firms making at least $200 million in annual revenue would pay a one-time tax of 50 percent of stock to create a sovereign wealth fund for taxpayers, which would be worth about $7 trillion. That fund would have a 5 percent annual dividend for direct payments to Americans, which Sanders estimates would be more than $1,000.
“The principle is simple: When a public resource generates wealth, the public should share in that wealth,” Sanders added. Under the terms of the bill, companies would have to split their AI and non-AI businesses.
“Left unchecked, Artificial Intelligence and robotics threatens the jobs, privacy rights and mental health of every man, woman and child in America,” Sanders’s statement said. “As a society, we can no longer sit back and allow a handful of Big Tech oligarchs to determine the future of this revolutionary technology with no democratic input.”
While the bill faces a tall order to pass, it’s a good start on the question of how to reign in and regulate AI. The ideal scenario, however, would have to go a lot further.
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