Curbing the AI Threat Requires Government Intervention Now, Not Later

Economists’ prediction that work will stay plentiful over the next 20 years (through the true AI boom) is less reassuring, especially over a long horizon. Money is already consolidating in the companies set to benefit from AI, and the current construct means it will stay there and never be allocated back to the average worker (you and your family).

3 things must happen to soften the impending and inevitable blow:

1. Higher taxes on capital and lower taxes on labor.

2. Public wage insurance, which smooths out falls in income after job losses as workers find better opportunities (and therefore eventually pays for itself).

3. Tax reforms to establish inheritance tax for the ultra wealthy to prevent the entrenchment of capital-owning elites (the true 1%).

I’m sure the average poster will not be too adversely affected given our average age. But those with children are handing them a world that will be vastly different than the one we grew up in.