Bernie Sanders Challenges Elon Musk's 'Money Won't Matter' Claim With 5% Wealth Tax Demand

A fresh feud between Bernie Sanders and Elon Musk has reignited arguments over billionaire wealth and artificial intelligence. The clash erupted after bold claims that AI will render currency obsolete by 2036.

Senator Bernie Sanders argued that Elon Musk ought to endorse his proposed wealth tax if the tech mogul genuinely stands by his recent remarks about the future irrelevance of money. The SpaceX founder has consistently asserted that financial assets will eventually lose their purpose as artificial intelligence and automation advance.

Appearing on The Economist on 23 July, Musk doubled down on his belief, asserting that 'money won't matter in 2036'. Five days later, on 28 July, Sanders called out the tech mogul's statement in a post on X.

Addressing the quote directly, Sanders posted: 'If Elon Musk, the richest man alive, really believes "money won't matter" in 2036, he'd support a 5% tax on his wealth & the wealth of other billionaires to make sure all Americans have a decent standard of living. The fact that he doesn't tells you everything you need to know.'

Sanders Links Musk's AI Vision to Wealth Tax

The Vermont senator has built his political career on fighting income inequality, consistently advocating an additional 5% tax on billionaires. He frequently singles out the world's richest individuals in his public statements and social media posts.

In a post on X on 26 July, Sanders highlighted the dramatic wealth gains of Elon Musk, Jeff Bezos and Mark Zuckerberg between 2012 and 2026. He contrasted those figures with the US federal minimum wage, which has remained unchanged since 2009, a disparity the Democratic senator branded 'obscene' as he called for an immediate pay rise for workers.

Sanders Questions How AI Would Support Americans

The 84-year-old senator continues to voice deep concerns over Musk's vision for an AI-driven workforce. In a video posted to X on 28 May, Sanders took direct aim at claims that future human labour will be entirely voluntary and that financial systems will become obsolete, asking:

'Well, if AI and robots do everything, work is optional, how do you survive? Oh, you're going to get a check, really? But there is no government because you're not paying any taxes, right? What happens to Social Security? What happens to Medicare and Medicaid? And who's going to determine the check that you get, really? How much are you going to get? How much am I going to get?' Sanders questioned.

A staunch opponent of uncontrolled AI development, Sanders has advocated direct public control of dominant tech ventures. To that end, he introduced a bill last month that would grant 'the public a 50%' equity stake in the nation's largest AI companies.

Musk Dismisses Sanders' Economic Proposals

On the other hand, Sanders' economic proposals and warnings about AI have routinely drawn sharp criticism from Musk. Responding to public discussion surrounding the senator's proposed legislation last month, Musk posted: 'Bernie takes his communism seriously.'

In an interview with The Economist editor Zanny Minton Beddoes, Musk predicted a 'quasi-infinite economy' driven by robotics, arguing that 'money won't matter in 2036'. He asserted that universal government payments could easily cover living costs, while acknowledging that AI carries inherent risks but insisting its rapid expansion remains unstoppable.