“Over the next 13 years, the rising tide of automation will force as many as 70 million workers in the United States to find another way to make money, a new study from the global consultancy McKinsey predicts.”
So, we’re going to give corporations a big, permanent tax cut in the hope that they will use that money to create jobs. Think again. They’re going to use that money to increase productivity by investing in automation – AI and robotics.
The report says that there is hope, that more jobs will be created as a result of the technological breakthroughs. They are wrong. AI and robots will be able, not too far into the future, to build, program, and repair robots far better than we could ever dream of doing.
We need to figure out what to do with 70 million unemployed people in the United States. Tax cuts, a wall with Mexico, terminating NAFTA and TPP – none of those are the answer.