JQPublic1
Gold Member
- Aug 10, 2012
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Yes, you are reading it right! Bill Gates' amazing proposal makes a lot of sense. If the automation phenomenon starts to gain momentum, millions of workers could be displaced by machines. That is millions or potentially billions of dollars lost in income taxes and FICA payroll taxes. The ramifications??? Unless, the workforce could be retrained in jobs that need human hands, such as Daycare, elderly care or Robot repair, we would enter a period of economic upheaval so grand as to make the Great Depression look like a recession. The heath of the economy depends on people earning and spending money as does the engine that supports Social Security,Medicare and all the things that we love. If the workforce loses millions of people, the taxes that lost labor would have generated has to be sustained. Taxing Robots would be necessary but we must consider that one robot might replace 10 or more people. Should the robot tax be structured on the output of each robot rather than on individual robots?
The robot that takes your job should pay taxes, says Bill Gates
The robot that takes your job should pay taxes, says Bill Gates