AI isn’t just coming for entry-level workers. Google CEO Sundar Pichai says no job, not even his own, is safe. But those who don’t adapt will be the first to fall.
I have a batter idea because too many Americans are anti tax but also hate fiat.
We erase the wealth instead. Take their investments and just delete them from financial records. It’s fiat so it’s imaginary and we can choose to stop imagining it.
Think of all the economic theories that will be tested!
No need to worry about what to do with anything collected. No corrupt middle men to skim off a price of it. Not written off, not a tax event, just poof gone.
That’s not a good idea, mainly because how billionaires’ wealth works - it’s not in cash but split between various investments, including real estate and other property. Do you suggest we just burn their supercars, their villas, their stocks, their Rolexes?
It’s not a bank account you can set to 0. What they have as available cash is at most 10% of their wealth, but usually under 1%, since cash is riskier than other investments.
Hell, the reason we’re having trouble taxing the rich is because they use weird loopholes that aren’t available to anyone else - such as taking low interest large lump sum loans backed by their assets/investments, which is tax-free, then defaulting on said loan or writing it off, transferring the backing asset to the loan giver, also tax free… Meanwhile you or me? We’re stuck with cashing out our investments which is an immediately taxable event. Good luck convincing a bank to give you a 0.25% loan of £5000 against your £6000 investment portfolio.
How about we adapt by raising taxes on you assholes and funding social programs?
Here’s an idea, 90% instant wealth tax on billionaires, and use the influx of money for UBI. Then they’re free to cut all the jobs for AI.
Rinse and repeat this every year until billionaires simply… don’t exist.
I have a batter idea because too many Americans are anti tax but also hate fiat.
We erase the wealth instead. Take their investments and just delete them from financial records. It’s fiat so it’s imaginary and we can choose to stop imagining it.
Think of all the economic theories that will be tested!
No need to worry about what to do with anything collected. No corrupt middle men to skim off a price of it. Not written off, not a tax event, just poof gone.
That’s not a good idea, mainly because how billionaires’ wealth works - it’s not in cash but split between various investments, including real estate and other property. Do you suggest we just burn their supercars, their villas, their stocks, their Rolexes?
It’s not a bank account you can set to 0. What they have as available cash is at most 10% of their wealth, but usually under 1%, since cash is riskier than other investments.
Hell, the reason we’re having trouble taxing the rich is because they use weird loopholes that aren’t available to anyone else - such as taking low interest large lump sum loans backed by their assets/investments, which is tax-free, then defaulting on said loan or writing it off, transferring the backing asset to the loan giver, also tax free… Meanwhile you or me? We’re stuck with cashing out our investments which is an immediately taxable event. Good luck convincing a bank to give you a 0.25% loan of £5000 against your £6000 investment portfolio.