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No, Bill Gates, We Don’t Need a Robot Tax

Thursday, March 9, 2017 21:10
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Of course not. Why slow innovation and the gains we will see as a society from this innovation? Yes some jobs will go away. But new ones will emerge. Likely in ways we can’t even conceptualize today.

Also a key point in this discussion is that we should fight new taxes always and everywhere. The government gets enough private money. Let’s not give it any more excuses to take the wealth of the people.

(From Economics 21)

Lackluster productivity growth in most developed countries would seem to suggest that, if anything, the pace of automation and introduction of new technologies is too slow, not something that is far outpacing society’s ability to cope. Policymakers should be seeking to encourage more innovation to boost economic growth, not deter it.

Concerns about unprecedented upheaval in the labor market, and what that means for income taxes, discount how much the labor market has evolved. In 1870 farm workers were just over half of the labor force, and their share declined drastically to 8.1 percent by 1960 and continued in the years since. Over this period, the landscape of the American economy and labor market changed fundamentally, but by 1960 the country had attained levels of prosperity that would have been difficult to imagine a century before. If the equivalent of a robot tax had been imposed in 1870, discouraging new innovations in the interest of minimizing disruption, everyone today would be much worse off.

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