2021 BRN Discussion, page-2463

http://www.cnbc.com/2021/03/17/openais-altman-ai-will-make-wealth-to-pay-all-adults-13500-a-year.html
http://www.zmescience.com/ecology/world-problems/stephen-hawking-you-should-support-wealth-redistribution/

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OpenAI's Sam Altman predicts AI technologies will create enough wealth to eventually pay each U.S. adult $13.5K per year. This wealth redistribution from the AI revolution could occur as soon as a decade, according to Altman, who's president and co-founder of the AI nonprofit company co-founded by Elon Musk.

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• The AI technological revolution and related progress over the next century will be "far larger than all we’ve made since we first controlled fire and invented the wheel," he predicted. As a result, governments need to adapt through new public policies, or "most people will end up worse off than they are today."
• One way is for governments to gather and redistribute the wealth generated by AI and machines, a concept proposed by Stephen Hawking, Musk, and others. These productivity gains would make future society "much less divisive and enable everyone to participate in its gains,” Altman said.
• In the future, companies and land will generate wealth, he argued, so governments should tax capital rather than labor for redistribution.
• He proposed an American Equity Fund, which would impose a 2.5% tax on the market value of large companies through company shares. This wealth would be redistributed to people 18 and older through shares and dollars.
• “That dividend could be much higher if AI accelerates growth, but even if it’s not, $13,500 will have much greater purchasing power than it does now because technology will have greatly reduced the cost of goods and services,” Altman wrote.

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