A bunch of people in the AI industry have blithely suggested that it will be fine if huge numbers of people lose their jobs to AI, because we’ll create some sort of universal basic income (UBI) to support them.
I think that’s a great idea, and think we should put their money where their mouths are. Starting immediately, any firm with any significant business producing AI should be taxed 50% of their gross revenue, and all that money should be divided up equally among all Americans as a UBI. (Firms with a “significant” AI business that are also in other businesses as might want to spin off the AI part of the business, so that they don’t have to pay this special tax on the non-AI parts of their gross income.)
This wouldn’t immediately produce a big enough UBI to make it unnecessary for someone to work, but I figure about the time it became impossible for an ordinary person to find a job because they’d all been displaced by AI, the AI industry would be making enough money for half their revenues to fund an adequate UBI.
In a similar vein, every firm paying for AI, rather than paying for workers, should have to pay a tax on all that AI spending equal to what they’d pay in withholding taxes if they were paying that money to an employee.
I don’t think this would produce nearly enough to fund a UBI, but I think it might be enough to go a long way toward shoring up Social Security and Medicare.
