Bernie Sanders Introduces Bill That Gives Public 50% Profit From AI Companies
Taxing the AI companies by half & redistributing that money back to us
The American AI Sovereign Wealth Fund Act would have the government tax AI companies, take 50% of the stock, and put it under public control.
I’m still uneasy about all things AI, but if we’re forced to live in a world where AI is about to dominate so many aspects of our lives, then we absolutely need this to be enacted.
AI is already dramatically changing the landscape of our lives, with pollution, water being siphoned to feed their data centers, the noise pollution of these centers, stress on our electric grid, increased consumption of fossil fuels, and I haven’t even spoken about the job loss yet…yes, we absolutely should tax these companies and use their profits to reinvest into our communities.
This was a passage from Mashable, who covered the story earlier today:
Sanders laid out the case for the American AI Sovereign Wealth Fund Act — a bill that would create a federally managed fund created not with cash, but with stock.
Specifically, Sanders proposes a one-time transfer of 50 percent of equity from companies like OpenAI, Anthropic, and xAI to the government.
The idea: since AI is built on the accumulated knowledge, creativity, conversations, and labor of the American people — typically without permission or payment — the American people deserve a cut of the profits.
The fund would acquire half the stock of the largest AI companies in the country through a mandated equity transfer — Sanders is explicit that this is not a profits tax.
The government would then hold voting shares and receive equal board representation at each company, giving it formal power to block decisions deemed harmful to the public.
Revenue generated by the fund would flow directly to Americans as cash payments, with Sanders indicating that, as the fund grows, proceeds would eventually support broader public goods, including healthcare, education, and housing. He points to Norway’s sovereign wealth fund and Alaska’s Permanent Fund Dividend as working models of the concept.
Again, it’s honestly hard to argue against this position (unless you’re a billionaire, owner of an AI company, or a Republican politician whose paid to be a mouthpiece for the billionaire class).
The AI industry is set to make hundreds of billions of dollars of year & that will come with a heavy cost to all of us.
This proposal is radical - it’s just common sense.
Something to remember the next time you hear someone refer to Sanders’ policies as “extreme”.
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Additional stories I wanted to share:
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Antonio Rodriguez, president of the National Institute of Water Resources, said fuel shortages, aging infrastructure, stalled imports and reduced credit have weakened water service. The shortages come as Cuba faces power outages lasting up to 20 hours under the blockade of President Donald Trump.Iran warns Israel over Lebanon as Netanyahu vows attacks will continue - Iran’s Parliament Speaker Mohammad Bagher Ghalibaf said he told Lebanese Parliament Speaker Nabih Berri that if Israeli crimes in Lebanon continue, Iran will not only halt U.S. dialogue but “stand firmly” against Israel.
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The Iranian Government is once again showing that it is unwilling to agree to any ceasefire with the United States, that does not include a ceasefire between Israel & Lebanon. Israel continues to show that it is unwilling to stop its attack on Lebanon for any reason, thus trapping the U.S. in a war with Iran.
Trump tells CNBC: ‘I don’t care’ if Iran negotiations are over - “I really don’t care. I couldn’t care less,” Trump told CNBC’s Eamon Javers in a phone interview midday Monday, saying he thought the protracted discussions “started to get very boring.”
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Here’s Why w/ Kevin Ortega-Rojas is the best place to stay up to date on the updates coming out of Delaney Hall - I’ve had quite a few people ask me for updates regarding the ICE detention center in New Jersey that needs to be shut down. Kevin Ortega-Rojas has been posting invaluable updates on Threads & I highly suggest checking out his account to stay up to date on what’s happening on the ground. He’s been posting multiple times a day, from the site.
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Until next time,
Desmond
If you have a primary election coming up this month - DO NOT SKIP IT. Please go out and vote. We need the RIGHT Democrats in office, not just any Democrat. Several states have elections tomorrow. Go vote.
Honestly it's disappointing that so many are attacking Bernie's bill as *not being progressive enough* bc they want AI shut down entirely. Like, get out of lala land. That's not happening. No one asked for consent or permission and they don't need it and don't want it, it's already here and it will be forced on everyone to live eith. Own it or be owned. At least he's putting forth a simple solution.