Policy Essays
Citizen Equity Trust
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Own the Robots
The AI/automation crisis isn't about jobs disappearing. It's about who owns the productivity gains.
UBI is a handout. Data dividends are intellectually risible. The solution: make every American an owner.
The Citizen Equity Trust (CET)
A U.S. sovereign index fund that makes every American a first-order beneficiary of AI/productivity gains.
Core Mechanics
- Mandate: Buy only public, broad-market index equities. No active picks, non-controlling stakes, no leverage.
- Funding: Wealth-tax floor on assets >$10M + fixed % of payroll + revenue-neutral swap from corporate tax elimination.
- DCA & lockups: Dollar-cost average weekly. 5-year lock per annual tranche.
- Caps: Max 3-5% ownership per issuer, <10% sector.
- Voting: Non-voting or pass-through to neutral proxy. No policy meddling.
- Custody: Independent public trust (Norway-style) with hard "no-political-use" charter.
Payouts to Citizens
- Everyone gets an account at birth; units accrue from annual CET buys
- Dividends flow per-capita (or to child account until 18)
- No means-testing, no work test - this is ownership yield, not UBI
- Counter-cyclical rule: smooth dividends in recessions, pay more in booms
The Tax Interface
- Public corporations: 0% federal corporate tax
- Private corporations: Taxed at top personal marginal rate ("corps are people too")
- Wealth-tax floor: Prevents 0% corp tax from becoming pure giveaway to top
Why This Works
- Aligns incentives: As AI raises margins, everyone owns the upside
- Neutralizes "$0 salary" games: If elites shift into pure capital gains, CET owns the market too
- Cuts deadweight loss: Killing corp tax removes complex avoidance
- No political price-setting: Markets set prices; CET is just a permanent buyer
Expected Outcomes (25 Years)
- CET owns ~5-8% of total market cap
- Pays $3-6k/yr (inflation-linked) to each adult in dividends
- Bottom-50% capital income > 2× today
- Gini (after transfers + CET) trending down
Why This Is Better Than UBI
UBI says: "Here's a check because the robots took your job."
CET says: "You own the robots. Here's your dividend."
Ownership > handouts. Always.