Andrew Yang discusses the idea that the bottom 50% of earners should not be taxes.
In the post AI world, there are many factors discouraging business hiring people when that work could be done by computers or automation. This includes fields ranging from simple customer service to computer programmers, since AI can be trained to code.
At the same time, AI pays no tax for this labor.
So why should the bottom 50% also pay taxes? Especially since people are becoming more and more replaceable in the AI boom and it's becoming harder to find employment, this seems like a good idea.
https://taxfoundation.org/data/all/federal/who-pays-federal-income-taxes-tax-year-2023/
In 2023, The bottom 50% only accounted for 3 percent of total income tax revenue while the top 50% generated 97 percent.
Andrew Yang also says that businesses who use AI should be taxed for doing so. If they're saving money by not hiring people and getting free labor, it makes sense.
Bernie Sanders was my number 1 choice for president but Yang would've made a great choice as well. He proposed universal basic income at a time when even I thought that was unfeasible; then Covid hit and government payments to households became a regular thing.
I support this idea completely.
@PuzZuLz saidthey might raise prices but definitely not immediately. And because by raising prices for the same product cost means a larger margin it will allow more competition and the prices will drop later.
Companies would just raise prices.
Unless a new law prevents companies and landlords from raising prices then nothing will change other than the prices going up.
No taxes on the bottom 50% would mean more people might open business. Or might spend more and therefore help other businesses. Might support small businesses instead of buying from amazon or walmart.
@PuzZuLz saidWhy? Businesses replacing workers with AI are already cutting costs and increasing profits.
Companies would just raise prices.
Unless a new law prevents companies and landlords from raising prices then nothing will change other than the prices going up.
Where I live, they announce an increase in minimum wage months ahead of the actual raise.
Stores raise prices right before the increase of minimum wage. It's been proven countless of times.
https://www.upjohn.org/research-highlights/does-increasing-minimum-wage-lead-higher-prices?utm_source=chatgpt.com
"By looking at changes in restaurant food pricing during the period of 1978–2015, prices rose by just 0.36 percent for every 10 percent increase in the minimum wage".
Prices do rise but they don't cancel out wage hikes. Raising wages means people have more money to spend on businesses.
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No prices came down when self checkout was implemented.
No prices came down because of Ai.
No prices have come down since inflation caused by covid.
They only go up and giving poor people more money will just cause companies to charge more.
Companies are not interested in lessening profits.
I agree about the no tax thing but a law to prevent greed needs to be in place or it's a useless effort.
@PuzZuLz saidWell then raise taxes on the rich like it was 1959.
No prices came down when self checkout was implemented.
No prices came down because of Ai.
No prices have come down since inflation caused by covid.
They only go up and giving poor people more money will just cause companies to charge more.
Companies are not interested in lessening profits.
I agree about the no tax thing but a law to prevent greed needs to be in place or it's a useless effort.
@vivify saidstart here..
[youtube Andrew Yang]sJFcwCplPCA[/youtube]
Andrew Yang discusses the idea that the bottom 50% of earners should not be taxes.
In the post AI world, there are many factors discouraging business hiring people when that work could be done by computers or automation. This includes fields ranging from simple customer service to computer programmers, since AI can be traine ...[text shortened]... hit and government payments to households became a regular thing.
I support this idea completely.
https://www.merriam-webster.com/dictionary/labor
@PuzZuLz saidThe calculation for minimum wage relies on a measurement of poverty wages and take home pay. No taxes on that bracket will increase take home pay without having to raise minimum wages.
No prices came down when self checkout was implemented.
No prices came down because of Ai.
No prices have come down since inflation caused by covid.
They only go up and giving poor people more money will just cause companies to charge more.
Companies are not interested in lessening profits.
I agree about the no tax thing but a law to prevent greed needs to be in place or it's a useless effort.
stores raise prices for all sorts of reasons, one of which is indeed higher wages, sometimes ("where you live" is not sufficient evidence to support your point) Does that mean wages shouldn't be increased?
You have more money, go buy in bulk. Switch stores. Order online. Put pressure if you want prices to drop.
Even if stores increase prices not everything will increase. Having a higher monthly income is still helpful
