I don't understand how the end game of AI works on multiple levels

Let’s just say AI works exactly how it is being marketed. Even using a conservative assumption and saying it replaces 20 percent paying jobs today. Large corporations would stop paying portions of the workforce and instead redirect that money toward companies like Anthropic and OpenAI. That would represent one of the largest wealth transfers in modern history, shifting income away from labor and toward a very small number of AI and infrastructure companies. If even 15 to 20 percent of US wage income was displaced, you are potentially talking about trillions of dollars moving from households toward capital owners and AI infrastructure providers over time. And create a oligarchy class in the US and world like never seen before From an economic perspective that would likely mean lower wages across large parts of the economy, reduced payroll and income tax revenue for the US government, weaker consumer spending, and even larger deficits. It also creates a strange political dynamic where the largest AI companies could become economically more powerful than entire industries. If corporations need fewer workers but increasingly depend on a small number of AI providers, those firms begin accumulating enormous leverage over the economy itself. If AI dramatically reduces the need for human labor faster than new industries emerge, Who wants this???? The only argument that seems to override all of this is the idea that China could get there first. But even that feels more complicated than people present it. China still has massive exposure to manufacturing, logistics, and blue collar labor, and frontier AI also depends on huge amounts of energy, chips, and data center infrastructure. China can not automate the labor force like the US is suggesting.