Is it possible to cover the loss of income tax to governments local and federal and in between?
During 2016’s Presidential race, there was no discussion of automation. As opposed to globalization, which dominated large segments of the debates. The true driver of job loss between 2000 and 2010 was in fact the rise of the robot with greater than 80% of losses jobs attributed to it.
The questions include the determination of effective tax rates, the future of human capital, and the potentials of a Universal Basic Income proposed and championed by Elon Musk and other futurists. For all his “techno-optimism” Gates still believes that the tax will only slow the tide of machines taking over as a preferred source of labor.
In discussing the role of business versus government in determining the role and trajectory of automated labor, Gates believes the existence and potentially exponential growth of inequity requires governments to lead the charge and protect their constituents from losing to monetary capital.
“Gates said that a robot tax could finance jobs taking care of elderly people or working with kids in schools, for which needs are unmet and to which humans are particularly well suited.” The intimate role played by caregivers and teachers is not easily replicated by machines, although the emotional skills of artificial intelligence are growing just as rapidly as the logical reasoning and physical prowess of machines. How long will it be until even those jobs are taken by robots? With hit shows like WestWorld and Humans, the large-scale philosophy of integrating artificial intelligence into our lives has been invited into our lives, and we will have to answer to the growth sooner than most of us expect. The greater details are what we will continue to pursue.
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