Dev.SN

Bill Gates: Prepare to be Assimilated

posted by janrinok on Monday March 17 2014, @08:03PM   
from the borg-revisited dept.

sl4shd0rk writes:

"Bill Gates says everyone needs to prepare to be out of work in 20 years due to Robots/software taking over most jobs. In preparation for this, Gates recommends people 'should basically get on their knees and beg businesses to keep employing humans' and reduce operating overhead for businesses by 'eliminating payroll and corporate income taxes while also not raising the minimum wage'. Bill Gates, you may recall, is the former CEO of Microsoft whose business acumen has brought the technology sector such things as Metro, Windows Phone and Xbox One.

BusinessInsider took a similar theme earlier this year."

• No, raise corporate income taxes No, raise corporate income taxes (Score: 5, Insightful) by Ken_g6 on Monday March 17 2014, @08:48PM

  by Ken_g6 (3706) on Monday March 17 2014, @08:48PM (#17866)

  If businesses are making money, and employees aren't, then corporate income taxes need to be raised, not lowered. Government needs to get its money from someplace.

  Then, how to encourage some employment? Make all employee wages and payroll taxes (if any) 100% tax deductible for the business. And ensure that other business investments (such as robots) aren't tax deductible.

  Starting Score:	1		point
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  Insightful=2, Interesting=2, Total=4
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  Total Score:		5

• Re:No, raise corporate income taxes Re:No, raise corporate income taxes (Score: 2) by Appalbarry on Monday March 17 2014, @10:57PM

  by Appalbarry (66) on Monday March 17 2014, @10:57PM (#17913) Homepage Journal

  Admittedly a few years since I studying any accounting. but I'm pretty sure that employee wages are what you call an EXPENSE which reduces your INCOME, and in consequence the taxes paid by your corporation.

  Off the top of my head I can't think of any EXPENSE item that can be applied directly to reduce tax liability.

  Because that would be, well, stupid.

  Parent

  • Re:No, raise corporate income taxes Re:No, raise corporate income taxes (Score: 2) by Daniel Dvorkin on Tuesday March 18 2014, @12:56AM

    by Daniel Dvorkin (1099) on Tuesday March 18 2014, @12:56AM (#17932)

    I'm pretty sure that employee wages are what you call an EXPENSE which reduces your INCOME, and in consequence the taxes paid by your corporation.

    Sure, because corporate accounting gets to use a different definition of "income" from the one applied to human beings. That's a legal fiction, and one we the people can rewrite if we choose.

    --
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    Parent

    • Re:No, raise corporate income taxes (Score: 0) by Anonymous Coward on Tuesday March 18 2014, @07:47PM

      by Anonymous Coward on Tuesday March 18 2014, @07:47PM (#18299)

      Sure, because corporate accounting gets to use a different definition of "income" from the one applied to human beings.

      But...but...but... I thought corporations WERE human beings!

      Parent

• Re:No, raise corporate income taxes (Score: 2) by mmcmonster on Tuesday March 18 2014, @10:49AM

  by mmcmonster (401) on Tuesday March 18 2014, @10:49AM (#18108)

  Wow. This is the first time I read something that may actually work. Will it get enacted as law? Of course not. But it's still interesting...

  Parent