The European Union Wants To Tax Robots - iShares MSCI United Kingdom Index Fund ETF (ETF:EWU), SPDR S&P 500 ETF (ETF:SPY)

It's only fair that robots used by companies to improve productivity pay their fair share of taxes, right? This might seem ridiculous, but the European Union is looking to create a set of new laws concerning the rise of robots. According to Forbes, one of the new laws would require robots to pay social security taxes. Naturally, the law can't specifically force a robot who likely works for free to pay taxes. The European Union does, however, want businesses that make use of robots to pay higher taxes based on the rational that a robot replaces a human worker who otherwise would pay taxes into the system.