What A Tax On AI Can Teach The Left
The rise of AI demands legislative action to mitigate its many risks. But rather than follow the same old regulatory playbook, Congress should instead embrace creative tax policy.
The rise of AI demands legislative action to mitigate its many risks. But rather than follow the same old regulatory playbook, Congress should instead embrace creative tax policy.
The old school year is dying, and the new one struggles to be born: now is the time of movies.
Pope Leo’s Magnifica Humanitas offers a vision of AI guided by peace, dignity, and moral renewal. It stands in stark contrast to an American administration governing by meme, chaos, and willful self-destruction.
The most pressing AI-driven crisis is the overestimation of AI’s capabilities and impacts, which has produced a historically large speculative AI bubble. To safeguard against this economic catastrophe, policymakers must confront and resist AI industry hype.
What if the price you see isn’t the price, but your price? As personalized pricing and consumer profiling spread, hidden patterns of advantage and disadvantage threaten to undermine the shared conditions that make collective action possible.
A selection of worthy additions to your “important PDFs” folder.
For over a century, fixed prices have made markets more transparent. Surveillance pricing threatens to reverse that progress by allowing corporations to secretly tailor prices using personal data. While states are beginning to respond to these practices, their efforts face growing First Amendment headwinds.
By targeting the addictive design features of social media platforms, K.G.M. v. Meta marks a breakthrough in product liability law. Yet the case also reveals a neglected class dimension: the harms of addictive platform design fall most heavily on those with the fewest alternatives. In addition to regulating these harmful products, we must build a world in which children do not so desperately need them.
As Republicans tightened work requirements and eligibility rules for Medicaid and SNAP last year, Equifax’s CEO openly celebrated the profits to be made from administering this deprivation. Means-testing and administrative complexity have turned America’s safety net into a lucrative revenue stream for monopolistic private contractors, underscoring the need for public data infrastructure and simpler eligibility rules.
Many on the left continue to view cryptocurrency as little more than a grift. Yet the crypto industry aims to achieve something much more dangerous: functional monetary sovereignty. Their infrastructures create new conditions for exchange, wealth, and information. By ignoring these developments, we increasingly live in a dystopian world of monetary fiefdoms, and we find ourselves lacking the legal imagination to meet the moment.
Amid the chaos of the second Trump administration, it is easy to lose sight of a simple, terrifying fact: the American president’s personal wealth is now inextricably linked to the viability of cryptocurrency.
From legislative paralysis to regulatory fragmentation to strategic incoherence, Democrats have spent the past five years squandering opportunities to assert control over the future of digital currencies. To reverse course, progressives need to embrace a coordinated approach that balances innovation, privacy, and systemic risk.
Despite its professed commitment to radical libertarianism and a non-state theory of money, the crypto industry is actively cultivating government intervention in markets on its behalf. From recruiting states to accept cryptocurrency for tax payments to pushing for the establishment of a Bitcoin reserve, crypto interests are partnering with the government to craft demand for currencies that hardly anyone uses.
The story of crypto’s transformation from cypherpunk experiment to Wall Street darling is bleak, but it was not preordained. Where did the left go wrong, and how can it reassert itself in shaping the future of money?
While some have cast the U.S. government’s $8.9 billion equity stake in Intel as the first step on the road to socialism, upon closer examination it looks more like a distinctive form of American state capitalism: one that entrenches corporate power while foreclosing more democratic and effective alternatives.