(Originally published by The Washington Post on February 24, 2025.)

Replace the corporate income tax with non-voting shares that corporations would issue to the fund.

President Donald Trump has signed an executive order to create a sovereign wealth fund — a government-owned fund that could invest in stocks, real estate or other private assets, allowing the American people to share those companies’ profits. Countries as disparate as Saudi Arabia and Norway have used their oil revenue to set up such funds, which are generally thought to have been quite successful. But the U.S. government doesn’t have that revenue because most oil here is privately owned.

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