Sanders argued that if Musk truly believes AI and robots will create so much abundance that money “won’t matter,” then he should have no problem backing a tax on billionaires to help ensure all Americans have a decent standard of living. The Vermont senator made the comments in a post on X, saying Musk’s opposition to a wealth tax “tells you everything you need to know.”
Musk’s original comments came during an interview with The Economist, where he said AI could eventually produce so many goods and services that the economy would shift toward abundance rather than scarcity. He suggested that people displaced by AI could receive government payments and later responded to Nobel Prize-winning economist Daron Acemoglu by saying he plans to donate much of his fortune if money truly becomes meaningless.
Musk, whose fortune is estimated at more than $700 billion, has consistently opposed wealth taxes. He argues that taxing billionaires alone will not solve America’s deficit and says he has already paid billions of dollars in taxes while expecting to pay trillions more over his lifetime.