Although not a new concept,
Robotax as per the title, I’ve not found a relevant thread in ASF re. automation/robotics/AI et al replacing the tax paying workforce. Thus, how will our govt. or any govt. for that matter, replace that lost income tax revenue.
No doubt govts. will need to keep receiving and indeed raising tax revenue to keep funding the ever increasing spend on defence, infrastucture, social security, health, education etc.
Alan Kohler has an interesting take on the superannuation wealth tax on balances above $3mill. As he suggests, the lost worker income tax revenue due AI et al has to be made up from somwhere.
From Wikipedia and reads in part:
A robot tax is a legislative strategy to disincentivize the replacement of workers by machines and bolster the social safety net for those who are displaced. While the automation of manual labour has been contemplated since before the Industrial Revolution, the issue has received increased discussion in the 21st century due to newer developments such as machine learning.[1]
Assessments of the risk vary widely, with one study finding that 47% of the workforce is automatable in the United States, and another study finding that this figure is 9% across 21 OECD countries.[2][3] The idea of taxing companies for deploying robots is controversial with opponents arguing that such measures will stifle innovation and impede the economic growth that technology has consistently brought in the past. Proponents have pointed to the phenomenon of “income polarization” which threatens the jobs of low-income workers who lack the means to enter the knowledge-based fields in high demand.
[4]
A worriesome dilemna that has seen some govts. cut autmation subsidies to companies e.g., Sth Korea.
Also as per the above Wikipedia page:
On August 6, 2017, South Korea, under President Moon, passed what has been called the first robot tax. Rather than taxing entities directly, the law reduces tax breaks that were previously awarded to investments into robotics.
As they say, the world progresses but two things remain certain, death and taxes…
