Joe
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As we all know, AI is displacing thousands (millions?) or workers in the USA and worldwide lately.
Many workers are losing their jobs & standard of living.
Large corporations like Amazon claim, "But it's in the name of progress! Workers need to learn how to adapt to the changing technology"
However, corporate profits are not going down. In fact, the opposite is true.
The Magnificent 7 - a number of the largest corporations in the US - are actually recording massive profits such as Amazon, Apple & Google.
Corporations are using AI and other technologies not only to make their companies more efficient, but to pad their profit margins and increase share prices and dividends to investors by laying off thousands of workers.
In many instances, this is not a case of companies which are hurting due to an downturn in a normal economic cycle.
Throwing workers under the bus like this is akin to a guy knocking up 10 women but then refusing to pay child support.
The corporations are refusing to be held accountable for their actions.
Therefore, what I propose is that these corporations should pay at least a 10% retraining tax if they are not hurting, but merely want to save money, increase their profits or outsource jobs to India.
This tax would go towards retraining workers, preparing them for self employment (since large employers can no longer be counted on to provide reliable employment for their workers).
Same time, it would not impact companies or employers that do NOT use AI to displace their workers.
If the workforce continues to be hollowed out like it is, and not just in the US, there won't be sufficient tax base to pay for the basic necessities which many societies rely upon
I think addressing mass layoffs is an urgent matter which needs to be addressed right NOW before it gets worse. Especially because we don't want to create a graveyard or swathes of ghost towns. Or millions of unemployed. Perhaps some in corporations want this vision, but most societies around the world do not.
Many workers are losing their jobs & standard of living.
Large corporations like Amazon claim, "But it's in the name of progress! Workers need to learn how to adapt to the changing technology"
However, corporate profits are not going down. In fact, the opposite is true.
The Magnificent 7 - a number of the largest corporations in the US - are actually recording massive profits such as Amazon, Apple & Google.
Corporations are using AI and other technologies not only to make their companies more efficient, but to pad their profit margins and increase share prices and dividends to investors by laying off thousands of workers.
In many instances, this is not a case of companies which are hurting due to an downturn in a normal economic cycle.
Throwing workers under the bus like this is akin to a guy knocking up 10 women but then refusing to pay child support.
The corporations are refusing to be held accountable for their actions.
Therefore, what I propose is that these corporations should pay at least a 10% retraining tax if they are not hurting, but merely want to save money, increase their profits or outsource jobs to India.
This tax would go towards retraining workers, preparing them for self employment (since large employers can no longer be counted on to provide reliable employment for their workers).
Same time, it would not impact companies or employers that do NOT use AI to displace their workers.
If the workforce continues to be hollowed out like it is, and not just in the US, there won't be sufficient tax base to pay for the basic necessities which many societies rely upon
I think addressing mass layoffs is an urgent matter which needs to be addressed right NOW before it gets worse. Especially because we don't want to create a graveyard or swathes of ghost towns. Or millions of unemployed. Perhaps some in corporations want this vision, but most societies around the world do not.
