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https://forwardfuture.com/newsletter/originals/a-tax-system-built-on-labor-is-a-tax-system-built-on-a-melting-glacier>
"Something strange happened over the past ten months. The idea that the public
should own a stake in the companies getting rich off automation went from
fringe to seeming consensus, fast.
Bernie Sanders introduced the
American AI Sovereign Wealth Fund Act, which
would hit the biggest AI companies with a one-time 50% tax paid in stock and
drop those shares into a fund that pays dividends to all of us. Trump signed an
executive order creating a sovereign wealth fund, and his administration has
been grabbing equity stakes along the way: in Intel, in MP Materials, in US
Steel, and more recently with the big AI companies, with a household dividend
floated as one use of the proceeds. Venture capitalist Vinod Khosla floated
taking 10% of every public company for the people. And back in 2021, Sam Altman
proposed almost exactly this in "Moore's Law for Everything": an American
Equity Fund capitalized by taxing big companies 2.5% of their market value each
year, payable in shares.
So the question is no longer
whether the public should own a piece of the
wealth we all helped build. People across the political spectrum have conceded
that point. The question now is
how.
And on the
how, I think nearly everyone is making the same mistake.
They all want to build a giant pile of wealth.
I don't. I propose we build a faucet."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
