Rise of Robots: Boon for Companies, Tax Headache for Lawmakers
Linda A. Thompson for Bloomberg News Agency: European lawmakers are grappling for answers to a question that until recently seemed like the stuff of science fiction: If robots take our jobs, who will pay taxes?
In an age of unprecedented technological change occurring at a faster rate than the Industrial Revolution, concerns over the growing robotization and automation of work have prompted fears about mass unemployment and plummeting tax revenue in the near future, pitting companies and robotics manufacturers against lawmakers and worker advocates.
The issue is taking on new urgency ahead of a Feb. 16 vote before the EU Parliament’s Legal Affairs Committee on whether to create a robotics agency to deliberate on tax and liability issues. Cont'd...
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