How Close We are to Universal Basic Income?
Over the next ten years, artificial intelligence will create such wealth that every adult in the United States can earn $ 13,500 a year. This was stated by Sam Altman, co-founder, and president of the non-profit organization OpenAI.
AI is going to change a lot of things. The world is going to get phenomenally wealthy. I wrote about what I think will happen, and an idea for how we could change our economic system in light of it: http://moores.samaltman.com
In his opinion, corporations and land will become the main sources of money for the state budget in the future. Governments will tax capital, not labor, and these funds should be distributed among citizens, the president of OpenAI said.
In his article, Altman proposed creating a fund that would tax large companies at 2.5% of their market value in the form of shares and 2.5% of the value of all land in cash.
According to his calculations, the value of American companies and private land — $ 50 trillion and $ 30 trillion, respectively — will “roughly double” over the next decade. Given this system, 250 million American adults will start receiving $ 13,500 a year in 10 years.
“This dividend could be much higher if AI accelerates growth. But even if this does not happen, $ 13,500 will have a much greater purchasing power than it is now, because technology will significantly lower the cost of goods and services,” wrote Altman.
Amid the current political tensions, he said, it remains controversial whether lawmakers will bring such a plan to fruition, especially within a decade.
Recall that in early March, the National Security Commission for Artificial Intelligence proposed to double spending on research and development in AI until 2026, calling the $ 40 billion investment “a modest down payment for future breakthroughs.”