Reply to Block fires 50% of company, stock up 25%

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Here's a surprising fact: companies exist to make money for their owners, not to provide as much employment as possible for as many people as possible.

Either be essential to a company's functioning and success, or start your own company, or work for a government which is not focused on efficiency.  Expecting employment to be a sinecure is just foolish.  [/quote]

But they get tax breaks because they are “job creators” who “contribute to the community”. [/quote]

We're going to be taxing the AI bots soon. That's how they're going to generate the UBI.[/quote]

The problem is this kind of taxation has never been done and the massive corporations will fight it tooth-and-nail.

The US tax system relies on W2 wage taxation as the primary driver of tax receipts.  Massive companies that in reality earn billions, end up paying almost no corporate income tax because of their ability to manipulate the tax system.

Even the WSJ is also now saying that there needs to be a way to tax billionaires because they can essentially pay zero tax...they don't pay themselves a wage, they borrow against their stock to fund their living expenses instead of selling their stock and paying capital gains, etc.  They don't generate any income to tax.[/quote]

I realize it's never been done, but AI disruption is going to change a lot of things and a lot of policies. Sure, it'll be a fight. But at the end of the day, we'll be taxing the robots to make up for the opportunity cost is fewer workers on the payroll paying for social insurance programs especially. Taxing models are going to change, just like business models will. It's inevitable.

This is Elon Musk advocates, BTW. [/quote]

+1. The only way this works is taxing the AI/corps and paying a dividend (UBI) to citizens. Otherwise, nobody will have any money to spend and it all implodes. Maybe it's happening behind closed doors, but my impression is the government (as usual) is behind on this. Getting heavy Feb 2020 vibes. [/quote]

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