"It can't be seen or touched, but it's shaking up markets and attracting investment. Artificial intelligence (AI) has become the object of desire for Big Tech, which is pouring astronomical sums into its development, fueled by record profits. The other side of this frenzy is workforce reductions, with automation as the backdrop, announced by multinationals like Amazon, Meta, and UPS, which, incidentally, threaten to extend"
"the impact of new technologies to another area: public coffers. Fewer people working means fewer taxpayers, so the question naturally arises: if machines and algorithms replace humans in their jobs, should they also have to cover the taxes that humans stop paying? Labor, through income tax and social security contributions, is one of the pillars of the tax systems of almost all countries, and the"
Artificial intelligence is attracting massive investment from Big Tech and fueling record profits. Automation and AI are prompting workforce reductions at multinationals such as Amazon, Meta and UPS. Reduced employment threatens labor-based tax revenues because fewer workers means fewer income-tax and social-security contributions. Proposals to address revenue loss include a tax on robots, proposed by Edmund Phelps and earlier suggested by Bill Gates, and alternatives such as raising capital-gains taxation advocated by experts like Sanjay Patnaik. Designing a specific AI or robot tax raises technical and distortion risks, and the net fiscal effect remains uncertain given potential productivity gains.
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