Article Image

IPFS News Link • Taxes-Corporate

Brave New World: Uncle Sam is taxing robots as companies invest in advanced tech

•, By John Aidan Byrne

New "robot" taxes are expected to multiply in the coming decades as millions of Americans see their jobs automated away.

"Yes, governments already tax robots because they tax virtually everything that goes into developing and making robots," economist and author Mark Thornton told The Post. "In a few cases, there are subsidies such as government grants for robot development. But that still means they are taxing you and me to provide the subsidies."

Taxing robots — a proposal first suggested by Microsoft founder Bill Gates in 2017 as a way for government to tame the inexorable ascent of machines, and to finance new programs like elder care and education — is back on the front burner.

A robot that replaces a factory worker who produces say, $50,000 of work annually, should be taxed at the same level to offset losses in income and Social Security taxes, Gates calculates.