If robots take over humans jobs, that results in fewer people working. Eventually, it does results in fewer people paying taxes. And problem arises as taxes fund things are important for nations.
Bill Gates stated his idea for solving this deficit: Have the robots which pay their share in taxes like a human does.
Also Read: Microsoft Founder Bill Gates Opens Account on WeChat
“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,” said, Bill Gates in an interview.
He claims if automation takes place over human activities, it should free up time allowing people to do a better job. He also condemned giving up the income tax, as that is a part of funding that level of human workers. The tax funds might come from the savings companies obtain from not having to pay and support human workers.
Also Read: Adobe Digital Insights Data Reveals 89% of People are Positive About Automation
About 50 percent of human jobs are vulnerable and can be replaced by robots. This may affect loosing $15 trillion wages $2.7 trillion in the United States alone. But the reports say this may not happen in the next 25 years.
“People should be figuring it out. It is really bad if people overall have more fear about what innovation is going to do than they have enthusiasm. That means they won’t shape it for the positive things it can do,” said, Gates.