New report warns against taxing robots
There are increasing calls for policymakers to impose taxes on robots and other capital goods based on the faulty analysis that doing so is necessary to raise adequate government revenue, restore labor income, and remove “distortions” in the tax code.
However, a new report from the Information Technology and Innovation Foundation (ITIF), the world’s leading think tank for science and technology policy, shows that these concerns are illusory and that taxing robots would slow productivity growth, as well as growth in wages and GDP.
Robert Atkinson, ITIF president and author of the report, says: “We need to increase productivity in order to increase wages and spur economic growth. The most important way to do this by encouraging the adoption of new machinery and equipment. [Read more…] about Robots set for uprising against taxes after taking too many jobs from humans
