The technological race among industry giants and the wave of layoffs they have announced has revived the debate about the advisability of taxing automation
Unless, of course, that income is in the form of increased stock value, and the owner never creates a taxable event. We will continue to be taxed on increasingly diminishing wages while wealth accumulates in the hands of those who pay no taxes.
I don’t think it’s foolish to suggest taxing the owners of these machines as way securing economic stability. Although it would be foolish to think it will happen without a real revolution.
It’s just computers, you fools. If a tractor replaces workers, does it pay taxes? Nonsense. The person receiving the income pays taxes.
Unless, of course, that income is in the form of increased stock value, and the owner never creates a taxable event. We will continue to be taxed on increasingly diminishing wages while wealth accumulates in the hands of those who pay no taxes.
I don’t think it’s foolish to suggest taxing the owners of these machines as way securing economic stability. Although it would be foolish to think it will happen without a real revolution.
I’m amenable to a progressive wealth tax, under which such computing infrastructure should be included.
Actually in many states in localities there is an equipment tax, so yes, in a way taxes are paid on the equipment that isn’t income.