Senator Bernie Sanders is concerned about the impact of AI automation on jobs in the US. His report found that nearly 100 million US jobs could be lost over the next decade due to low wages and growing corporate profits.
Since 1973, productivity has increased by 150%, but real wages have only gone down for average American workers. The gap between worker productivity and wages is so wide that a fair minimum wage would be around $25 an hour, more than three times the current federal minimum of $7.25.
To address this issue, Sanders proposes a “robot tax” on large corporations to redistribute wealth created by AI automation to workers affected. This tax would function as a direct excise tax on technology itself, ensuring that the benefits are shared with those impacted.
This idea is similar to a universal basic income (UBI), and even Bill Gates supports it. However, some argue that without a broader social safety net, UBI can only be a temporary fix. To make it effective, Sanders suggests worker protections like rent freezes and price controls, as well as democratic control of the workplace.
The proposal is part of a growing conversation about how to address the impact of AI on work and wages.
Source: https://futurism.com/artificial-intelligence/bernie-sanders-economy-ai