Call it a 'Robot Tax' or call it an 'AI Tax', but I initially called it a 'Labor Floor'. Whatever we call it, the way to do it is to make the corporate tax = 2xProfit/Labor.
This auto redistributes profits when automation is high.
It's a complex policy, so follow along for more
@EconomicTimes The fact is cheeseburgers lower fertility rates. Ronald McDonald and @SecKennedy aren't going to lead America to higher fertility rates.
Their understanding of dietetics is as bad as their understanding of economic policy, in regard to building a healthy nation.
@CatoInstitute@mfcannon One of the clearest problems and solutions is one that the MAHA movement refuses to believe: stop eating red meat and bacon.
https://t.co/MkRhCB0783
"High intake of red and processed meats is linked to a higher risk of ovulatory infertility (up to 40% higher) and poorer sperm quality."
I have doubts @SecKennedy and MAHA will recognize the core problem.
.@SecKennedy: “@POTUS has asked me to determine the cause of dropping fertility rates in this country. So we have @NIH and the other agencies doing the first really comprehensive science on that.”
@bradlander@ewarren Ironically enough, Adam Smith, the so-called father of capitalism, suggested a wealth tax. I don't think Republicans even know what capitalism is.
Who doesn't agree with taxing billionaires more? Oh right, the billionaires!
They may whine about it (and even try buying elections to stop us), but the movement is growing to tax obscene wealth — and use it to fund child care, health care, and affordable housing.
In NYC, that’s the pied-a-terre tax. In Washington, that’s Senator @ewarren’s 2-cent wealth tax on fortunes over $50 million (and 3-cents over $1 billion).
@RBReich My biggest problem with crypto is that it's like burying gold in the backyard. It removes money from investments in small businesses and communities. It represents the lack of government revenue, which results in federal debt and a lack of nation-building.
The Senate is moving ahead with the CLARITY Act, yet another deregulatory giveaway to the cryptocurrency industry.
This is happening as Trump is getting even richer off his own crypto grifts at our collective expense.
@SecKennedy@HHSGov@US_FDA Research is already accessible.
We need the government to hold animal agriculture accountable for being associated with 2/3 of the heart health research. How can we trust the research when industry muddies the water?
@futurism This has happened in waves throughout the past. The mass layoffs in 2008 added pressure to automate and added pressure on the remaining staff. This is why we need an economic policy that is built to manage the effects of automation. My policy does this.
@IMFNews This can be explained by the US government being permissive to corporations monopolizing the market share and the fact most of these new companies are in markets that didn't exist 50 years ago.
I'd rather know how this impacts small businesses and consumers?
Astrophysicists and cosmologists, I'm seeking an endorsement of my theoretical framework from an established arXiv author.
After becoming disabled 14 years ago, I got locked in, studied independently, and developed new theories. Please review my paper: https://t.co/mHbFC8Xbc7
@AndrewYang I'm the economist and entrepreneur that built the policy to impose a tax on automation that also doubles as a floor for labor, which will fund your UBI. Let's chat.
@PeteButtigieg Modern inflation happens partially from income data used by corporations to maximize profits from optimizing prices. The only solution to this, that doesn't require unreasonable level of bureaucracy, is to enact a corporate tax reform based on 2× profit/labor. Let's discuss.
@entreprneursonx I was one of the 2008 "Boss by Necessity" entrepreneurs who faced too much risk with low chances of reward. The hustle cost me my health, leaving me disabled.
I also studied economics; I saw how Republicans create economic volatility, which destroys small business economies.
@ProfGMarkets@profgalloway What kind of impact would there be in this regard if we changed the corporate flat tax to vary based on their ratio of profit/labor?
@VraserX It's coming for the income though. That's why I developed an economic policy that seamlessly protects the income from automated jobs.
It's just a simple corporate tax reform. Replace the flat tax with a tax that varies due to their ratio of profit/labor.
Can you picture it?