If Robots Replace People, Should They Be Paying Taxes?

Robot car plantby William E. Rogers MBA, CFP, EA

The capability of artificial intelligence has reached a point that it is no longer a question of if robots will replace people, but a matter of when. Highly automated factory floors, driverless cars, and computerized medical diagnoses all exist today. In the not too distant future it is plausible that a large percentage of highly skilled jobs will be performed by robots. In the fields of engineering, finance, and scientific research computers have already surpassed the ability to process data in a far superior manner than the brightest humans on the planet. [Read more…]

THE STRATEGIC THREAT OF OUR LIFETIME: PEOPLE VS. ROBOTS

robots welding in an automobile factory

Written by William E. Rogers MBA, CFP, EA

As the election season heats up, you are probably going to hear a lot of discussion about trade policy. Although there is no question that millions of American workers have been displaced by globalization; I personally feel that this is the wrong issue to focus on. Why, because the offshoring of jobs and the ensuing hollowing out of small town America have taken place over thirty years. I believe that it is extremely dishonest to tell voters that we are going to magically bring our jobs back by simply renegotiating trade deals. The reality is the global economy doesn’t work that way. We are only lying to ourselves by not recognizing the fact that the genie has left the bottle, and there’s no putting him back in. Whether we like it or not, we have to come to the stark realization that jobs that have been lost to global trade are not coming back. [Read more…]