Bernie Sanders publicly challenged Elon Musk, demanding to know the way the tech billionaire plans to fund a “Common Excessive Earnings” whereas refusing to assist a 5% tax on his personal $817 billion fortune.
Elon Musk posted on X that authorities checks may very well be the perfect answer to AI-driven unemployment. He argued that AI and robotics would generate sufficient items and providers to offset any enhance within the cash provide and forestall inflation.
Sanders Turns the Funding Query Again on Musk
The Vermont senator fired again in a direct put up to Musk, pointing to the contradiction. Sanders framed his criticism as a broader problem to financial equity and the funding mannequin behind large-scale income-support proposals.
Sanders and Rep. Ro Khanna have proposed the “Make Billionaires Pay Their Honest Share Act”. The invoice would impose a 5% annual wealth tax on web property above $1 billion. The invoice targets roughly 938 billionaires and initiatives $4.4 trillion in income over a decade.
AI Job Displacement Is Already Accelerating
The coverage conflict arrives as AI layoffs mount in 2026 throughout main industries. AI brokers claimed 9,200 jobs in 2026 alone, with Goldman Sachs estimating AI trimmed roughly 16,000 US month-to-month payroll positions over the previous yr.
The displacement impacts not solely entry-level work. Musk has amplified warnings about AI eliminating PhD-level finance and analysis roles. He counsel the risk extends effectively up the abilities ladder.
Dario Amodei has warned that AI may remove as much as 50% of entry-level white-collar jobs inside 5 years. He additionally recommended that US unemployment may probably rise to twenty%. Musk has beforehand acknowledged he expects AI to develop into probably the most disruptive financial drive in historical past, predicting a future the place no job is finally vital.
Whether or not that future could be managed by authorities earnings assist, and who would pay for it, is a query neither facet has but answered concretely.
The put up Bernie Sanders Questions Elon Musk on Common Excessive Earnings appeared first on BeInCrypto.