Robot Taxes
America has taxed “hands” working in the economy since 1911. So how do we tax a robot hand that replaces a human hand? 🦾💸🏛️
I’m still pitching this story in real life. It isn’t pretty.
Income taxes on labor were invented in 1911, but they aren’t going to work much longer.
What CFO isn’t going to replace their people with robots? Who wouldn’t CAPEX and amortize the largest line item on their OPEX?
we have to (finally) tax capital more than labor
Capital in the 21st century (r > g). What happens if you have unlimited growth in “g”, but they are all owned by the “r”?
local governments will need a way to limit market populism from siphoning capital away from their communities
corporate taxes will increase. They will need to redistribute more capital into the local economies they displace
Conspicuous consumption is the past—”conspicuous production” is the future. We’ll see 10X more products like Tom’s shoes (buy one, give one).
world after capital
If we’re currently taxing “hands” working in the economy, and a robot hand replaces a human hand, shouldn’t the owner of the robot be required to pay the CAPITAL taxes and the LABOR taxes on that hand?
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