ROBOT TAXES
A question that will be a hot topic of conversation in the coming weeks, months and years is.... "Should Robots be Taxed..??"
Some may think that this is a crazy idea even just to suggest, but it should be realised that in the coming years millions of jobs will be taken out of the system and replaced by robots.
This is reality and must be tackled head on.
As robots replace labour in manufacturing, distribution and all other industries how do Governments intend to replace the life blood income stream of TAX..??
It is not only income tax that will drop but more importantly that no one seems to what to discuss is the loss in Income Pension Contributions needed to pay out existing liabilities.
Robots are therefore in essence robbing the system of TWO crucial income streams, TAX and PENSIONS.
A third dimension that is probably also more alarming is that as Corporations drastically reduce their labour force in favour of robotics and Banks divert and manipulate profits through complex DERIVATIVES there is a potential that ultimately Corporations and Banks will hold Governments to ransom as it is these that are now in full control of the TAX and PENSIONS incomes.
These are challenging and worrying financial times that are accelerating towards us at an unprecedented rate and most people are simply burying their heads in the sand through fear of not fully understanding the consequences.
Currently there is $275 trillion of Global Governments DEBT, but the real problem that no one wants to face up to is the $750 trillion of Future UNFUNDED Government DEBT..!!
So the next time someone says that Taxing Robots is a crazy and stupid idea ask them who is going to pay the $750 trillion of Pensions, Social Security, Medical Care, Government and Veteran Benefits to name but a few in the future..!!
Thanks for reading.
Stephen