Artificial Intelligence will create so much wealth that every adult in the United States could be paid $13,500 per year from its windfall as soon as 10 years from now.

Iran Press/America: Sam Altman, co-founder, and president of San Francisco-headquartered, an artificial intelligence-focused nonprofit called OpenAI said: “My work at OpenAI reminds me every day about the magnitude of the socio-economic change that is coming sooner than most people believe.” 

Altman also wrote in his tweet: “The technological progress we make in the next 100 years will be far larger than all we’ve made since we first controlled fire and invented the wheel,” he wrote, according to CNBC.

The government needs to respond accordingly. “If the public policy doesn’t adapt accordingly, most people will end up worse off than they are today,” Altman said.

In his post, Altman proposed an American Equity Fund that taxes sufficiently large companies 2.5% of their market value in the form of company shares and 2.5% of the value of all land in the form of dollars. Private companies with annual revenue of $1 billion or more would also be taxed and pay in cash, Altman said.

All citizens over 18 would receive payment in both dollars and company shares. People could do as they see fit with that money, Altman said.

By giving every citizen ownership in the country, society would improve for everyone. “Everyone who owns a share in Amazon wants the share price to rise. As people’s individual assets rise in tandem with the country’s, they have a literal stake in seeing their country do well,” Altman said.

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