Bernie Sanders has unveiled an aggressive plan to transfer trillions from leading AI firms to the public, and, to the likely horror of AI firms, it goes even further than expected to give Americans more control over the AI industry.
Sanders shared a summary of his legislation with AP News. If passed, the law would create a sovereign wealth fund “financed through a one-time 50 percent tax on the stock of the largest AI companies,” AP News reported. Any AI firm that does $200 million in annual AI sales would be subject to the tax, as would any new firm once it reaches that revenue level.
mhizzle on
Sorry pal, we need that money to keep the war going for another week and a half
Storn206 on
Good luck doing anything that’s disadvantageous to the epstein class with the current administration
Ntroepy on
I’m not so sure of his plans, but at least Bernie is singularly taking the warnings from the AI CEOs seriously and trying to start the discussion.
I wish our politics would allow an actual discussion of the government’s response to AI, but that’s near impossible.
0DarkFreezing on
Typical performative and ineffective in the real world Bernie.
bigwreck94 on
Bernie Sanders just loves coming up with ways to spend everyone else’s money.
Scfbigb1 on
Bernie could have accomplished a lot if he wasnt so hyperbolic 80% of the time.
pedanticPandaPoo on
On one hand, this government is possibly the worst place to put any money right now.
On the other, we gotta do something…
Plus what’s to stop them from creating a structure similar to CDARS for FDIC insurance to get many firms under $200M?
PrestigiousMacaron31 on
Bernie the big talker that never gets anything done
ghostupinthetoast on
This is an awesome idea – Bernie, you’re a f* saint, and we don’t deserve ye.
Noeyiax on
Anyone else besides Mr. Sanders … These posts and his ambition for decades now , feels robotic and pandered/grifted z.z
Whatever801 on
Dudes making 10 bucks an hour are really gonna see this and say no thanks
Justthetip74 on
Delusional 80yo lenninist communist who has been praising every communist dictator of the 20th century for the last 50 years wants the public to sieze control of public companies with a bill that will never pass?
BinniesPurp on
I feel like the economy can never be as simple as „we make them give us 50% of their revenue so we can all be wealthy“
Wouldn’t they just do what google did and register in Ireland?
FlushedApparatchik on
Bernie has passed 10 out of his 1200 proposed bills. Most of them were for renaming post offices. 40 years of shouting at the sky.
Artholos on
Most of the AI models are open source. There’s literally nothing the AI industry is doing to stop anyone from just doing it for free on their own computers. Megacorps like Meta and OpenAI have provided tons of their R&D to the world open and for free already.
Why try to take money away from greedy corporations that have been generous with open source contributions on their own terms? Why not instead incentivize them further? Give them tax breaks for contributing more open source technology and innovation or something. That could actually make the world’s free and open wealth of knowledge better through capitalism.
No one, let alone Bernie, can stop megacorp greed, so why not harness their greed to help people instead of fighting them for a pound a flesh?
Shatter_ on
These companies are hugely exposed in retirement accounts all around the world. Raiding trillions from people around the world while these companies reap in profits intentionally and avoid all taxes would be an insane act of war. Trump on steroids. What a wild proposal.
lettercrank on
Good – this is a massive cultural shift and requires a massive level of government control.
maalox on
AI is literally trained on Reddit. If you’ve posted here, you’ve contributed to intelligence that’s making other people piles of money. Socializing AI’s profits is totally fair.
MemesConCarne on
There are 100,000 reason this will never happen, but the foremost imo is that gen ai isn’t actually profitable. The „frontier“ companies are all subsidizing token costs to build hype and dependency. After the tech oligarch inevitably take their bag and run, all that will be left are destroyed livelihoods and abandoned tech waste.
cdit on
The headline should read: „Bernie Sanders unveils aggressive plan to bankrupt American AI companies“
LOL!!
fatman907 on
He’ll collect millions from supporters then drop out of the election. How have people not figured this out yet? “Fool me twice, shame on you. Fool me thrice…”
1992_6BT on
Instead of waiting for this to never become law, I’ll just invest a little money into each of these companies every month until I am ready to retire.
IsThereCheese on
What would that even mean if I already *work for* one of those companies, and have a lot of company stock…
Devalued I assume…
TheRealWatermelon420 on
Imaging if he would of been president, all the good he could of done.
labrum on
This is just a punishment for success and a giant warning to never ever start a business in US of A.
Even China doesn’t do shit like this.
1992_6BT on
All of the pure AI companies aren’t actually making a profit.
Therefore the government isn’t making any money from tax revenues.
So Bernie wants to tax current stock prices, which are entirely based on speculation and the potential for future profit, which will already be subject to taxation.
DigGumPig on
This comment section is just an echo chamber of bots catastrophizing isn’t it ?
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From the article
Bernie Sanders has unveiled an aggressive plan to transfer trillions from leading AI firms to the public, and, to the likely horror of AI firms, it goes even further than expected to give Americans more control over the AI industry.
Sanders shared a summary of his legislation with AP News. If passed, the law would create a sovereign wealth fund “financed through a one-time 50 percent tax on the stock of the largest AI companies,” AP News reported. Any AI firm that does $200 million in annual AI sales would be subject to the tax, as would any new firm once it reaches that revenue level.
Sorry pal, we need that money to keep the war going for another week and a half
Good luck doing anything that’s disadvantageous to the epstein class with the current administration
I’m not so sure of his plans, but at least Bernie is singularly taking the warnings from the AI CEOs seriously and trying to start the discussion.
I wish our politics would allow an actual discussion of the government’s response to AI, but that’s near impossible.
Typical performative and ineffective in the real world Bernie.
Bernie Sanders just loves coming up with ways to spend everyone else’s money.
Bernie could have accomplished a lot if he wasnt so hyperbolic 80% of the time.
On one hand, this government is possibly the worst place to put any money right now.
On the other, we gotta do something…
Plus what’s to stop them from creating a structure similar to CDARS for FDIC insurance to get many firms under $200M?
Bernie the big talker that never gets anything done
This is an awesome idea – Bernie, you’re a f* saint, and we don’t deserve ye.
Anyone else besides Mr. Sanders … These posts and his ambition for decades now , feels robotic and pandered/grifted z.z
Dudes making 10 bucks an hour are really gonna see this and say no thanks
Delusional 80yo lenninist communist who has been praising every communist dictator of the 20th century for the last 50 years wants the public to sieze control of public companies with a bill that will never pass?
I feel like the economy can never be as simple as „we make them give us 50% of their revenue so we can all be wealthy“
Wouldn’t they just do what google did and register in Ireland?
Bernie has passed 10 out of his 1200 proposed bills. Most of them were for renaming post offices. 40 years of shouting at the sky.
Most of the AI models are open source. There’s literally nothing the AI industry is doing to stop anyone from just doing it for free on their own computers. Megacorps like Meta and OpenAI have provided tons of their R&D to the world open and for free already.
Why try to take money away from greedy corporations that have been generous with open source contributions on their own terms? Why not instead incentivize them further? Give them tax breaks for contributing more open source technology and innovation or something. That could actually make the world’s free and open wealth of knowledge better through capitalism.
No one, let alone Bernie, can stop megacorp greed, so why not harness their greed to help people instead of fighting them for a pound a flesh?
These companies are hugely exposed in retirement accounts all around the world. Raiding trillions from people around the world while these companies reap in profits intentionally and avoid all taxes would be an insane act of war. Trump on steroids. What a wild proposal.
Good – this is a massive cultural shift and requires a massive level of government control.
AI is literally trained on Reddit. If you’ve posted here, you’ve contributed to intelligence that’s making other people piles of money. Socializing AI’s profits is totally fair.
There are 100,000 reason this will never happen, but the foremost imo is that gen ai isn’t actually profitable. The „frontier“ companies are all subsidizing token costs to build hype and dependency. After the tech oligarch inevitably take their bag and run, all that will be left are destroyed livelihoods and abandoned tech waste.
The headline should read: „Bernie Sanders unveils aggressive plan to bankrupt American AI companies“
LOL!!
He’ll collect millions from supporters then drop out of the election. How have people not figured this out yet? “Fool me twice, shame on you. Fool me thrice…”
Instead of waiting for this to never become law, I’ll just invest a little money into each of these companies every month until I am ready to retire.
What would that even mean if I already *work for* one of those companies, and have a lot of company stock…
Devalued I assume…
Imaging if he would of been president, all the good he could of done.
This is just a punishment for success and a giant warning to never ever start a business in US of A.
Even China doesn’t do shit like this.
All of the pure AI companies aren’t actually making a profit.
Therefore the government isn’t making any money from tax revenues.
So Bernie wants to tax current stock prices, which are entirely based on speculation and the potential for future profit, which will already be subject to taxation.
This comment section is just an echo chamber of bots catastrophizing isn’t it ?