tax cut
Artificial intelligence and robotics will save the Trump economy
In January, Wall Street investors were optimistic tax cuts would sustain economic growth and the Trump bull market. As spring arrives, the world has proven decidedly more uncertain. The administration has not articulated end game goals for the trade standoff with China. President Xi Jinping is offering some concessions but his commitment to industrial policies that target vital American industries remains clear and menacing. An all-out trade war could disrupt global supply chains, nix planned investment spending, stall both economies and tank stocks.
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- Government > Regional Government > Asia Government > China Government (0.91)
A new fiscal policy for a world of accelerated change and artificial intelligence
In the decade since the Great Recession, governments have used fiscal policy to prop up flagging domestic demand. This response has been considered appropriate because the shock was seen as temporary. But this attention to demand-side weaknesses may have distracted governments from attending to supply-side gaps that have been widening with the acceleration of technological change and artificial intelligence. Policymakers should start paying more attention to what's called structural fiscal policies, that is, changes in both public spending and tax collection to aid the expansion of the productive potential of economies. As laborsaving technologies flood the market, delays in doing this could mean that workers pay a stiff price, while consumers do not realize many of the benefits.
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Wells Fargo AI platform says Amazon's HQ2 will be in Boston
Atlanta was Georgia's only applicant and is considered a front runner, with an Amazon lobbyist visiting the city in December. Atlanta never disclosed the details of the proposal it submitted for HQ2, but it described it as'aggressive' in terms of incentives offered. City officials did not specify what the incentives were. 'On the city side alone, we put forth more incentives than we've ever put forward in the history of the city,' Mayor Kasim Reed said last year, adding that'nothing was left on the table.' Austin did not promise any financial incentives or city tax cuts with its proposal.
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China Wants to Add Artificial Intelligence to Half of All New Cars by 2020
Artificial intelligence will change our world for the better, and this is something most countries have come to realize. However, China seems to be taking it much seriously as the country wants to implement AI in up to half of all new cars by the year 2020. Now, we've long heard of tech companies wanting self-driving cars to talk to each other over the Internet, and that's something the Chinese are aiming to accomplish as well. The idea is to have up to 90 percent of all highways and big cities be covered by wireless internet coverage because it's important for cars to discuss our demise. The goal is set by the National Development and Reform Commission (NDRC), and the entire thing is part of a draft for China's national smart car strategy. Overall, this is part of the country's desire to become the next powerhouse in science and technology, and AI is key to achieving success in this area.
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Corporations will use their tax savings to hire robots, not people
To the editor: The Times' article on whether cutting corporate taxes will boost the wages of American workers fails to address critical circumstances that are likely to lead to a devastating economic crash. We are being tickled a little now with things like hamburger kiosks and self-driving cars, but all of this is just the beginning. If corporations spend to increase production, they most likely will spend it to automate at the expense of workers. This will mean fewer people will be able to afford their products, leading to lower corporate profits and stock sales by wealthy investors. The likely result will be a severe economic crash much like, if not worse than, what our country experienced in 1929, 1987 and 2008.
- Government > Tax (1.00)
- Law > Taxation Law (0.99)
Q&A: Famed economist Henry Kaufman says robots are 'greatest challenge' to workers
The S&P 500 is up 21% since Election Day. Henry Kaufman, 90, the renowned economist, former managing director at Wall Street firm Salomon Brothers and author of Tectonic Shifts In Financial Markets, shared his views with USA TODAY on the future of the American worker, tax cuts and the middle class, the retirement savings crisis and the risks facing computer-driven markets. Kaufman is president of Henry Kaufman & Company, an economic and financial consulting firm established in 1988. USA TODAY: Robots are invading the workplace. Is technology a threat to middle-class workers? KAUFMAN: The greatest challenge that workers face and we as a society face is that labor over a longer period of time will become more and more obsolete.
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Why Trump Needs an Enemy
Last week, a senior White House official shared a candid theory with me about why President Donald Trump and his team have been adrift since November: they've yet to adjust to the post-election reality, and they haven't yet learned how to operate without a single, common enemy--Hillary Clinton--to focus on. It was a frank admission that a team built for winning a campaign has so far failed at governing. Incoming Presidents usually trade in some of their political tacticians for experienced Washington hands when they take office, but Trump installed his entire senior campaign leadership into top positions in the White House, a place where few of them have ever worked before. In fact, one of the only senior Trump staffers with previous White House experience is Omarosa Manigault, the reality-star villain from "The Apprentice," who briefly worked in the Clinton White House when she was twenty-three years old. The early results of this experiment in governance by the least experienced have not been promising.
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Let's hope Trump does what he says regarding robots and robotics
In President-elect Trump's interview with the NY Times yesterday, when discussing jobs, closed factories and factories that may leave the country, he was asked: "Are you worried that those companies will keep their factories here, but the jobs will be replaced by robots? They will, and we'll make the robots too. It's a big thing, we'll make the robots too. Right now we don't make the robots. But we're going to, I mean, look, robotics is becoming very big and we're going to do that.
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