October 23rd, 2018

‘Tech tax’ necessary to avoid dystopia, says leading economist

Economics & Politics

A “tech tax” is necessary if the world is to avoid a dystopian future in which AI leads to a concentration of global wealth in the hands of a few thousand people, influential economist Dr Jeffrey Sachs has warned.

Speaking to the Guardian, Sachs backed calls for taxation aimed at the largest tech companies, arguing that new technologies were dramatically shifting the income distribution worldwide “from labour to intellectual property (IP) and other capital income.”

“So rather than cutting capital income taxation, as we’ve been doing in a race to the bottom, we ought to be finding ways to tax capital income and IP income,” Sachs added…

Read the rest of the article at The Guardian here.

 

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