Tax robots and Universal Basic Income

Technological innovation is moving at an ever-accelerating pace, and this comes with vast benefits and inevitable changes to our way of life. One downside is that machine learning and automation are already replacing jobs, and this will increase rapidly. It also has the potential to replace much of that income with Universal Basic Income (UBI), or government cash handouts to all adult citizens, perhaps starting with covering some element of taxes and rising in the range of $100,000/year per citizen within the next 20 years. Proponents of UBI include well-known figures such as Mark Zuckerberg, Richard Branson and Elon Musk. Musk stated last year that he believed job loss would be so severe due to automation that some form of UBI will be necessary to support our society.