Business

Here’s Why Bill Gates Wants Robots To Pay Taxes

News World India | 0
710
| February 20 , 2017 , 11:36 IST
Clinton Global Initiative Annual Meeting In New York Robots that steal human jobs should pay taxes, Microsoft co-founder and philanthropist Bill Gates has said. "Certainly there will be taxes that relate to automation. Right now, the human worker who does, say, $50,000 worth of work in a factory, that income is taxed and you get income tax, social security tax, all those things," Gates told Quartz website. "If a robot comes in to do the same thing, you'd think that we'd tax the robot at a similar level," said Gates, one of the world's richest men. ALSO READ: Bill Gates Lauds PM Modi’s Demonetisation Move, Says Note Ban Will Kill Shadow Economy Gates said he believes that governments should tax companies' use of robots, as a way to at least temporarily slow the spread of automation and to fund other types of employment. The 61-year-old philanthropist said a robot tax could finance jobs taking care of elderly people or working with kids in schools, for which needs are unmet and to which humans are particularly well suited. He argued that governments must oversee such programmes rather than relying on businesses, in order to redirect the jobs to help people with lower incomes. ALSO READ: Swachh Bharat Partnership With India One Of The Best, Says Bill Gates "If you can take the labour that used to do the things automation replaces, and financially and training-wise and fulfillment-wise have that person go off and do these other things, then you're net ahead," said Gates, one of the leading players in artificial-intelligence technology. "But you can't just give up that income tax, because that's part of how you've been funding that level of human workers," he said.