AP Exclusive: Bernie Sanders unveils plan to give the public direct ownership of AI companies

Ah, Bernie Sanders has decided that if you can't regulate them, you might as well own them. His AI Sovereign Wealth Fund Act proposes a one-time 50% tax on the stock of the largest AI companies, creating a sovereign wealth fund worth an estimated $7 trillion. Because nothing says 'responsible stewardship of transformative technology' like the same government that can't process a passport application in under six months taking a controlling stake in the companies building god-like intelligence.

Let's be clear: the tax is on stock, not cash, so the AI giants would have to either dilute themselves or sell assets to pay up. But hey, who needs shareholder value when you have a vaguely worded bill and a press release? The fund would be managed by the government, presumably with the same efficiency as the DMV, the USPS, and the IRS combined. And the $7 trillion estimate? Based on the assumption that stock prices stay high after you announce a 50% seizure. Good luck with that.

But the best part is the framing: 'public direct ownership of AI companies.' Because the public definitely wants to be on the hook for every hallucination, every biased hiring algorithm, every autonomous car fender-bender. And when the fund inevitably underperforms, we'll get to hear the usual chorus: 'We need more funding, more oversight, more committees.' The only thing missing is a plan for who gets to decide when the AI goes rogue — a town hall meeting, perhaps?