“Robots that steal human jobs should pay taxes.”- Says Bill Gates, Co-Founder, Microsoft

“Robots that steal human jobs should pay taxes.”- Says Bill Gates, Co-Founder, Microsoft
The Siliconreview
28 Febuary, 2017

One of the world's richest men, American business magnate and philanthropist Microsoft’s co-founder and philanthropist Bill Gates recently said that ‘Robots that steal human jobs should pay taxes’.

"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 explained to 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.

Gates expressed his views, narrating that at least to temporarily slug the increase of automation and to fund other types of employment, government should tax companies' use of robots. The philanthropist also said that a robot tax is capable to finance jobs taking care of old-aged people or working with kids in schools, for which wants are still unmet. He also had a heated argument over the issue that in order to re-directs jobs to assist people with less incomes, government must oversee such kind of plans rather than relying on businesses.

"If you can take the labour that used to do the things automation replaces, and financially and training-wise and fulfilment-wise have that person go off and do these other things, then you're net ahead," said Gates. "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 added.

It is also been reported that the thought is not fully theoretical as the EU lawmakers measured a proposal to tax robot owners to pay for training for workers who lose their jobs, but still on the 16th of February legislators end up  rejecting it.

"You ought to be willing to raise the tax level and even slow down the speed" of automation, Exactly how you'd do it, measure it, you know, it's interesting for people to start talking about now," Gates said.

Talking about the tax on robots, Gates added, "Some of it can come on the profits that are generated by the labour- saving efficiency there. Some of it can come directly in some type of robot tax. I don't think the robot companies are going to be outraged that there might be a tax. It's OK."