<p style="font-weight: 400;">On Monday, hard-left Vermont senator Bernie Sanders offered a suggestion that would cripple America, declaring he would introduce the American AI Sovereign Wealth Fund Act, which would “give the public a direct ownership stake in the largest AI companies in America through a one-time 50% tax, not on profits, but on stock.”</p>
<p style="font-weight: 400;">“The creative work of millions and hundreds of millions of people has been stolen by the wealthiest people in the world,” Sanders ranted. “The time has come to reclaim what was stolen from us.”</p>
<p style="font-weight: 400;">He launched into his typical class-warfare argument: “No longer would the future of AI be dictated by a handful of big tech oligarchs while the rest of the world sits back and watches them do what they want. Secondly, it would guarantee that the trillions potentially created by AI are used to improve the lives of all of us, not simply to make the richest people on Earth even richer.”</p>
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<p style="font-weight: 400;">“The future of AI must not be decided behind closed doors in Silicon Valley,” he raged. “It must not be dictated by billionaires seeking to maximize their power and profits. It must be decided by workers, parents, teachers, artists, scientists, communities, and the American people.”</p>
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
<p lang="en" dir="ltr">I will soon be introducing a bill to give the public a 50% ownership stake in the largest AI companies in America.</p>
<p>This would guarantee that the trillions created by AI are used to improve the lives of all of us — and block oligarch decisions that harm the American people. <a href="https://t.co/y3ERWOsRfs">pic.twitter.com/y3ERWOsRfs</a></p>
<p>&mdash; Bernie Sanders (@BernieSanders) <a href="https://x.com/BernieSanders/status/2061631422188626083?ref_src=twsrc%5Etfw">June 2, 2026</a></p></blockquote>
<p><script async src="https://platform.x.com/widgets.js" charset="utf-8"></script></p>
<p>&nbsp;</p>
<p style="font-weight: 400;">Here are the reasons Sanders is completely wrong, and even dangerous:</p>
<p style="font-weight: 400;">First, a one-time 50% tax on stock — not profits — would hit these companies just as they reach the public markets. Anthropic has already filed for an IPO, with OpenAI expected to follow this fall. Faced with the government claiming half their equity, investors would walk away from those offerings, collapsing the very valuations that would generate Sanders&#8217;s &#8220;trillions.&#8221;</p>
<p style="font-weight: 400;">Second, companies would reincorporate outside the U.S. to avoid classification as a &#8220;large AI company.”</p>
<p style="font-weight: 400;">Third, Investors who might fund the next AI company would redirect to other markets.</p>
<p style="font-weight: 400;">Sanders claims AI was built on &#8220;stolen&#8221; collective intelligence. This kind of argument could be used to nationalize any information-based industry.</p>
<p style="font-weight: 400;">Here is where Sanders’ position is dangerous:</p>
<p style="font-weight: 400;">China&#8217;s government spends funds to support its AI companies, such as Alibaba, Baidu, and Huawei. But because American AI companies are supported by private capital, this enables the AI companies to move much faster than their foreign competition.</p>
<p style="font-weight: 400;">And the military and intelligence applications of AI — drone autonomy, signals intelligence, logistics, cybersecurity — depend on the speed of the private sector to support them.</p>
<p style="font-weight: 400;">The core of capitalism is people taking risks. Punishing the innovators and risk-takers is essentially anti-American.</p>
<p style="font-weight: 400;">The AI giants in America are racing against China. If Sanders gets his way, his government fund would own a smaller stake in AI companies that either left for greener pastures or were outraced by competitors who didn’t have such shackles placed upon them.</p>

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Bernie Sanders Wants To Cripple America’s AI Advantage

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Bernie Sanders Wants To Cripple America’s AI Advantage