Robots Move? Tax Them!

Both Microsoft's Bill Gates New York Mayor Bill de Blasio have called for a tax on job-stealing robots, according to a Wall Street Journal tax policy reporter: A robot tax could serve multiple purposes, slowing job-destroying automation while raising revenue to supplement shrinking taxes paid by human workers. It could take a few different forms. Lawmakers could limit or slow down deductions for businesses that replace humans with robots, or they could hit businesses with levies equivalent to the payroll taxes paid by employers and employees. The current employment picture in the United States has been reasonably good (only 3.5% unemployment in 2019) so the proposed robot tax is just an idea at present. But a downturn could turn the idea into a cause.