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Another interesting wrinkle that lukeschlather brings up is that if the productivity increases are the result of more and more automation, does that not also me
by bmelton 11y ago
Another interesting wrinkle that lukeschlather brings up is that if the productivity increases are the result of more and more automation, does that not also mean that there are fewer and fewer people paying into social security? Or am I misunderstanding the statement?
- aianus 11y agoWhoever owns the machines is going to be paying a lot of taxes on their outrageous income, though.
- bmelton 11y agoThat's only assuming that costs go up or stay the same. They might, but if the tax burden becomes higher than the net increase in production, they could very well lower prices to better compete. Long story short, you MIGHT be right, but if the economy is depressed by all the newly jobless, it seems a stretch that prices would skyrocket, or even stay flat so long as automation provides more wiggle room at the margins.