(by Ben Epel, Colorado Law 2L)
The world is facing a new problem when it comes to innovation: automation and robots increasingly have been replacing individual workers. Robots have moved out of the factories and will soon be coming to a fast food restaurant near you; in 2016, McDonald’s former CEO Ed Rensi said that it is cheaper to buy a $35,000 robotic arm than it is to hire an employee who makes $15 an hour bagging French fries. As robots become cheaper and the need for higher wages increases, what will happen to displaced employees?
What would Bill Gates do? A robot tax. Private companies would be taxed whenever the company replaces an individual with a robot. Gates claims that the government should implement this tax to slow down the rate of automation in the United States. Continue reading “Last Week in Tech Policy: #46 Is Taxing Robots Really the Answer?”