taxes collected go down. I would argue, straight up, who cares? If production is growing like gangbusters, and you have the power to tax whatever you want, you’re fine.
They’ll have less power to tax whatever they want, because the new production is better able to evade taxes than was the case with wages. See this post for the full argument.
This will be a very temporary problem, but the US will likely come closer than during COVID to being unable to borrow at a reasonable rate.
Your linked post says it’s intended for financial professionals. So it’s the full argument. I’m curious about tax evasion with few wages to pay. And this seems potentially pretty crucial. It seems like “power to tax whatever you want” does not describe current governments even without facing AI changes. Want to give the broad version of the argument?
They’ll have less power to tax whatever they want, because the new production is better able to evade taxes than was the case with wages. See this post for the full argument.
This will be a very temporary problem, but the US will likely come closer than during COVID to being unable to borrow at a reasonable rate.
Your linked post says it’s intended for financial professionals. So it’s the full argument. I’m curious about tax evasion with few wages to pay. And this seems potentially pretty crucial. It seems like “power to tax whatever you want” does not describe current governments even without facing AI changes. Want to give the broad version of the argument?