Taxing robots could stop innovation

Recently, the leader of the Labor Party in the UK, Jeremy Corbyn, suggested that a “tax on robots” should be put in place. He believes automation is a “threat” to workers and wants to use the tax income to build a fund for retraining staff that lose their jobs. He thinks “we should all get the benefits” from “greedy” global corporations which have “made a great deal of money out of incredibly advanced technology.” While mass receipt of global commercial wealth is most appreciated, Corbyn’s suggestions are a reaction to the Hollywood version of the technology. A suggestion that could… [Continue Reading]