Annual Growth Rates Have Dropped from 13% to 2% Since 1947 but Bill Gates Blames Robots?

Source: Annual Growth Rates Have Dropped from 13% to 2% Since 1947 but Bill Gates Blames Robots? | Armstrong Economics

By Martin Armstrong

Then we have workers being replaced by robots along with driverless cars. Here too, thanks to the elitists like Bill Gates, who suddenly wants to be an economist, he comes up with the solution that the government should tax robots as if they are workers. This, he proposes, would prevent the depletion of the government of much-needed income tax revenue.

First of all, robots are killing jobs because taxes and demand for benefits are going crazy. healthcare costs are consuming the net disposable income and government taxes, and the combination are conspiring to lower annual economic growth rates dramatically. Real GDP growth rates have been declining every since World War II and the dawn of big government. These people just do not get it. They are the problem. GDP annual growth has declined from 13% down to 2%. Just where has big government helped?

The solution to those in government is always more taxes and more government. Never even once will they entertain conducting a real study on economic growth. For then, you would discover the shocking truth that it now takes two wages to support a family that once took just one in 1940.

Taxes keep rising and the standard of living declines. Socialism is all about government helping itself to the spoils of class warfare handing crumbs to the people at the bottom to make them believe they are doing something other than filling their own pockets.

 

Mady DELVAUX

Mady Delvaux, a member of the European Parliament from Luxembourg, proposed back in 2016 in a report suggesting governments should recover lost tax revenue from workers displaced by automation and redistribute it to people in need. In short, she proposed a tax on robots. The problem is that the people in need are governments. Luxembourg ia a country you really want to stay far away from. It has the truly insane debt of almost $7 million per capital. No other government is that far beyond comprehension. No wonder she is desperate to propose taxing robots. I am surprised she hasn’t figured out a way to tax animals as well. Delvaux has said “Bill Gates is a great man and more intelligent than I am.” His proposal to tax robots is insane.

I find it amazing how everyone thinks they can be an economist and change society to right what they think is wrong. Why doesn’t Bill Gates start giving medical advice as well. The economy is not some toy to play with for these type of people are ignorant of how complex the economy truly is. I have stated many times, it is as complex as a rain forest. Every species is interconnected. Exterminate one and you wipe out the food source for another.  Even a koala bear typically inhabit open eucalypt woodlands, and the leaves of these trees make up most of their diet. Eliminate these trees and you will kill off that species. The economy is also a delicate complex entity. These people have never bother to study the economy and follow Marx insofar as if you think you can change the world, just hand it to government. We are far more interconnected that any of these people even dare to think.

Well Mr. Gates, I needed 240 employs in the 1980s and 1990s to maintain databases and collect everything around the world. I can do that an the push of a button today. So perhaps we should tax the entire internet and the computers you make along with your software became I can do myself with an assistant what it took 240 people to do 30 years ago. Perhaps you should be taxes retroactively for destroying jobs with technology.



Categories: Economy

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