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."
(Score: 1) by len_harms on Tuesday March 18 2014, @10:19AM
Effectively states are already moving to this model.
http://www.csmonitor.com/Commentary/Opinion/2012/0 517/Your-employer-may-be-pocketing-your-state-inco me-tax [csmonitor.com]
Then with a bit of http://www.investopedia.com/terms/d/double-irish-w ith-a-dutch-sandwich.asp [investopedia.com]
You have companies effectively paying 0 and in some cases getting subsidized.
They just now have to employee a few people to take care of it. http://en.wikipedia.org/wiki/Parable_of_the_broken _window [wikipedia.org]
The idea is not madness and actually is supported by quite a few prominent economists.
Companies are already doing this. As an individual I am effectively taxed for consumption already. As I pay before I even spend it. However, larger companies have more ability to 'dodge taxes'. Putting smaller companies at an even bigger disadvantage.
Gates is saying just get rid of the waste. A VAT sort of tax makes sense if you want to keep the gov around. Unless you start adding in exceptions. The second you add an exception someone will figure out a way to 'maximize' the value.