What is the Propose 50% AI Tax?

Bernie Sanders has introduced legislation to impose a one-time tax on AI companies to help create an American Sovereign Wealth Fund that would give the public a 50% ownership in the largest artificial intelligence (AI) companies. According to Sanders, at current valuations, the sovereign wealth fund would be worth an estimated $7 trillion. A 5% annual dividend from this fund could provide a direct payment of more than $1,000 to everyone in America. 

AI companies with more than $200 million sales would be subject to this tax.

Companies with more than $200 million gross receipts engaged in AI activities related to

(i)               AI data centers

(ii)             AI computing infrastructure

(iii)          AI services or

(iv)           researching producing, or manufacturing advanced robotics.