Bill Gates says job-stealing robots should get taxed like humans

Bill Gates says job-stealing robots should get taxed like humans:

Bill Gates says job-stealing robots should get taxed like humans

Bill Gates thinks robots should get taxed just like humans, he said in a recent interview with Quartz.

“Right now if a human worker does you know, $50,000 worth of work in a factory, that income is taxed,” the billionaire said. “If a robot comes in to do the same thing, you’d think we would tax the robot at a similar level.”

Gates said robots can be good thing by doing certain types of labor done by humans so that people can focus in other fields where there is a shortage of workers.

“If you can take the labor that used to do the thing automation replaces, and financially and training-wise and fulfillment-wise have that person go off and do these other things, then you’re net ahead,” Gates explained, “But you can’t just give up that income tax, because that’s part of how you’ve been funding that level of human workers.”

Gate said companies with robots shouldn’t benefit from the profits generated by automated labor without paying any taxes. He said the tax system on automated labor should work like how it does with people’s earnings when the government takes part of the wages to fund social programs.

Gates said companies also wouldn’t go mad over a robot tax.

“I don’t think the robot companies are going to be outraged that there might be a tax,” he said. “It’s OK.”

The billionaire also said the government should play a more active role when it comes to implementing a tax on robots.

There have been numerous reports on technology replacing human workers, including a 2015 McKinsey report, which said 45 percent of jobs could be replaced with current technology. 
Meanwhile, Bank of England chief economist Andy Haldane said in November 2015 that 80 million jobs in the U.S. and 15 million in the U.K. could be taken over by robots.Bill Gates says job-stealing robots should get taxed like humans: