Senator Bernie Sanders has publicly challenged Elon Musk over his proposal for a "Universal High Income" amid AI-driven unemployment. Sanders questioned how Musk plans to fund such an initiative while opposing a 5% tax on his $817 billion fortune. Musk suggested that AI and robotics could produce enough goods and services to prevent inflation despite increased money supply.
Sanders, along with Rep. Ro Khanna, has introduced the "Make Billionaires Pay Their Fair Share Act," which proposes a 5% annual wealth tax on net assets over $1 billion, targeting 938 billionaires and aiming to generate $4.4 trillion over a decade. This debate comes as AI-related job displacement accelerates, with significant layoffs reported in 2026. Musk has warned that AI could eliminate jobs across all skill levels, raising questions about the feasibility of government income support.
Bernie Sanders Challenges Elon Musk on Universal High Income Funding
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