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By this logic owners of wheel barrows should be taxed for all the manual labour jobs the wheel barrow destroyed.
AI is on track to being able to remove a society-changing amount of jobs, wheel barrows improved worker's efficiency.
Looking at the actual article, the people suggesting taxes on AI are American Nobel laureate Edmund Phelps, and Bill Gates, founder of MSFT. The Europeans suggest more general taxes on capital instead.
Don't tax tools or income, tax the accumulation of it: wealth.
By this logic owners of wheel barrows should be taxed for all the manual labour jobs the wheel barrow destroyed.
By your logic wheel barrows could potentially replace >90% of all jobs. AI is on track to being able to remove a society-changing amount of jobs, wheel barrows improved worker's efficiency.
EU in a nutshell.
Earlier quoted context omitted.
I hope you still feel you arent losing when your job is gone and thus your income and woops there goes your home because you cant afford your rent/mortgage anymore.
Rent/mortgage would be dirt cheap if you didn't have to live near a job.
"In the United States, for example, about 85% of federal tax revenue comes from labor income" That's the problem. AI has the same tax problems as corporations. But US corporate taxes are historically very low and easy to evade.
Why not just tax wealth at steeply progressive rates? If the robots result in increased wealth inequality, a wealth tax will counteract that. If not, then it means the introduction of robots led to more broadly-based benefits. Either way, I'm so sick and tired of people talking about the effect on GDP. GDP is a terrible way to measure anything remotely meaningful. GDP has gone up and up and things have gotten worse a…
Taxing income is straightforward in that there is a stream of it going by and some of it can be diverted. Taxing wealth is difficult because you don't really know what it is. Arguably the value of a publicly traded corporation can be known because it is being traded continually. [1] For a privately held corporation it's quite opaque. Right now, for instance, Open AI is estimated to be worth $500B and might IPO at $1T…
When I was young I imagined a future where nobody had to work because computers and robots could do it all.
I imagine this future could come true, if we're willing to accept that there would be many fewer people.
The robots and automations are like the trees and bushes from our gatherer's past.
People would just take what they needed. No one would say: you are not allowed to take a berry from this bush because it's mine!!!
Taxes are to fund government. Isn't the idea for AI and robotics to replace government? No taxes.