Bill Gates predicts robots will pay taxes in the future – data hints at up to £290bn in UK

In a 2017 interview with Quartz, the multi-billionaire predicted that most jobs could be performed by robots. With this in mind, the philanthropist argued that we should introduce a “robot tax” – the profits from which could fund schools, care homes and other government run facilities.

He said that, in the future, “there will be taxes that relate to automation”.

Mr Gates added: “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.”

As bizarre as the concept seems – even bridging into the realm of science fiction – the system could help people with lower incomes.

According to a report from the Progressive Policy Think Tank (IPPR), around 44 percent of UK jobs could be automated – worth around £290bn.

Proponents of the prediction believe that, eventually, robots will generate so much taxable profit that humans will be able to live without working.

However, critics have warned that, with so many robots replacing human jobs (approximately 13.7 million according to IPPR), a robot tax would only serve to slow the transition to automation.

Mr Gates warned it is important to manage the displacement automation will produce.

READ MORE: When was the last full eclipse over the UK?

“The more ethical dilemma is how egalitarian a society we want to have.

“Income disparity is already a serious problem and automation is likely to make it worse unless we have a more progressive tax system.

“This is because automation is likely to reduce government tax revenue at the same time that it will require greater investments in worker retraining and social benefits.”

Author:
This post originally appeared on Daily Express :: Weird Feed

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.