Social Media Sidebar

Announcement

Please sign up, comment on articles and bring your friends!

Current poll

PlanetTech is asking:

What do you think about our new web site?

Love it, indeed
Really good solution
Same as old one
The old one was better
This is a new option

Quote of the day

We are all now connected by the Internet, like neurons in a giant brain.

 

Stephen Hawking

 

Bill Gates Says Job Stealing Robots Need to Pay Taxes

RATE THIS! +45
Posted in Software on 20th Feb, 2017 04:29 PM by Alex Muller
Bill Gates thinks that, as automation makes jobs obsolete, governments should impose a tax on robots. While this plan is not yet an accepted solution, Gates has stated that we need to at the very least start talking about what we will do about job loss in this age of automation. It’s possible that robots will take over some human jobs.
 
In fact, it seems like it could be only a matter of time before they do. Increasing automation will lead to massive job displacement, and less people working means less employed citizens paying taxes. So, the question is, how will communities make up the difference if automation is inevitable in the future of employment?
 
Co-founder of Microsoft Bill Gates suggests that robots that take human jobs should pay taxes.
 
“Right now, the human worker who does, say, $50,000 worth of work in a factory, that income is taxed and you get income tax, Social Security tax, all those things. If a robot comes in to do the same thing, you’d think that we’d tax the robot at a similar level,” Gates explained in an interview with Quartz.
 
This robot tax money could be taken from what companies would save given the efficiencies that an automated workforce provides them, or a tax imposed on companies that employ robots. The collected taxes could be used for anything from the care of the elderly or to support youth projects in public schools. Gates believes there will be little resistance from companies that employ a robot workforce.
 
Half of jobs today are already at risk of becoming obsolete due to automation, and evidence of an industrial future defined by an automated workforce is steadily building. According to a report by McKinsey, about 60 percent of all occupations could have 30 percent, or more, of their activities automated with technology that exists today. And, as technology rapidly advances, those numbers will only climb higher.
 
Gates’ tax idea has already been proposed by European Union lawmakers, but the law was rejected. Another proposal that looks to also provide a solution is the implementation of a universal basic income (UBI), which tech industrialist Elon Musk is a strong proponent of.
 
Regardless of what solution is put into place or how governments will treat taxes and a waning organic workforce in the age of automation, Gates asserts that this is something that people should start talking about now:
 
“Exactly how you’d do it, measure it, you know, it’s interesting for people to start talking about now. There will be some great conversations and be some ideas about new investments that can be made.”

Tags: robotroboticsbusinesshardwaresoftwareAI

Read original article » Back to category

Comments



 

Recent headlines

  • Posted in Business on 2017-05-26 15:00:47
    Solar jobs growing 17 times faster than US economy..read more
    Posted in Science on 2017-05-26 14:50:23
    Schiaparelli: Crashed lander was ill-prepared for Mars..read more
    Posted in Science on 2017-05-26 14:46:05
    New Zealand space launch is first from a private site..read more
    Posted in Medicine on 2017-05-25 15:31:42
    Too Much Sleep Could Signal Dementia..read more
    Posted in Business on 2017-05-25 15:26:18
    India cancels plans for huge coal power stations as solar.....read more
Posted in Business on 2013-10-10 01:33
China is working towards a manned lunar mission in about.....read more
Posted in Business on 2013-10-20 07:17
Spacex says China is their main competitor for commercial.....read more
Posted in Software on 2013-10-20 06:43
Pirate Bay Browser Clocks 1,000,000 Downloads..read more
Posted in Medicine on 2013-10-10 02:10
Google reportedly investing hundreds of millions into new.....read more
Posted in Medicine on 2013-10-14 03:13
Endothelial Cells Can Repair and Regenerate Organs,.....read more
Posted in Science on 01.01.2010
Spacex says China is their main competitor for commercial.....read more
Posted in Science on 01.01.2010
Staring at Your Phone Could Be Making You Short Sighted..read more
Posted in Science on 01.01.2010
Oculus Rift virtual reality headset coming to mobile, but.....read more
Posted in Science on 01.01.2010
China is working towards a manned lunar mission in about.....read more
Posted in Science on 01.01.2010
Delivering drugs via nanoparticles to target mitochondria..read more

Recent Blog Posts

  • Posted by AlexMuller
    Nanoparticle vaccine shows potential as immunotherapy to fight.....read more
    Posted by AlexMuller
    Obesity is top cause of preventable life-years lost, study shows..read more
    Posted by AlexMuller
    Light can be utilized to control gene function..read more
    Posted by AlexMuller
    Brain stimulation restores memory during lapses, research shows..read more
    Posted by AlexMuller
    Wax worm caterpillar will eat plastic shopping bags: New.....read more

Login to your Account

Login to your PlanetTech Account here

Username:
Password:
Remember me
or

Create a New Account

You just need username and password

The following errors occured:
Username:
Email:
Password:
Verify password:
Remember me