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Wouldn't higher productivity also lead to higher profits? Which then should be taxed accordingly?
Only if the increased earnings are treated as profits. Amazon famously had zero taxable profit for, what, decades?
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Only if the increased earnings are treated as profits. Amazon famously had zero taxable profit for, what, decades?
...creating a huge amount of value for customers and shareholders, and now pays far more tax on far more profit.
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It’s not about logic. It’s about humanity. We are losing.
1. No, we are not losing. 2. If it was true that we were losing, then tax revenue would be the least of our worries.
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I'm not so sure this argument is valid. The invention of the wheel barrow created new jobs in wheel barrow manufacturing and distribution. On the other hand, the promise/threat of AI seems to be the complete displacement of humans in many industries without creating alternative employment for the vast majority.
Just to expand on this. The wheelbarrow increases the value of labor. It's not a good analogy.
Same as when one developer with AI can do the job of 3 developers and the other 2 are fired.
People on the left love to say “true communism has never been tried”.
Well, when you live in a world where supposed capitalist countries forcibly take 46% of the GDP to be controlled by the government, it’s more accurate to state that “true capitalism has never been tried”.
In a world where many western states extort their subjects for almost half the wealth they produce (OECD average is 34% and in countries like France the state extorts 46% of all GDP in taxes and other mandatory contributions and an insane 82% of all gross salary), some people first thought when they think of AI, is: “but how are we going to tax it?”. People on the left love to say “true communism has never been tried…
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1. We are absolutely losing. Wealth inequality has never been higher in human history. How does a single human amass such wealth when his physical and intellectual output doesn’t even match that level of equivalent worth? The first reason is he scrapes it off others, and the second reason is technological automation. AI is just one bump in the road of technological innovation magnifying work output. 2. I never said t…
This was an article about AI and income tax policy, but you’re making arguments about inequality.