Bill Gates Wants to Tax Robots That Replace Jobs, and Some Believe the Revenue Could Fund Universal Basic Income

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00:00Bill Gates wants to tax robots that replace jobs, and some believe the revenue could fund

00:05universal basic income.

00:07Years before AI fears rose, Bill Gates proposed a robot tax in 2017, taxing machines that

00:14replace humans, a once-radical idea now gaining real-world relevance.

00:23AI and automation are rapidly replacing human jobs.

00:26Over 4 million robots now work in factories, a 10% rise in 2024, with Amazon alone using

00:33750,000 since 2012.

00:36The real question, how will we adapt?

00:42In a 2017 Quartz interview, Bill Gates said companies using robots should pay taxes like

00:47human workers.

00:49The funds, he suggested, could retrain displaced workers and support jobs needing empathy,

00:54helping ease automation's rapid impact.

00:59Though Gates didn't link his robot tax to UBI initially, he later saw its potential to

01:04fight poverty.

01:06In 2024, he supported UBI's role in easing taxpayer costs, echoing ideas from Elon Musk and Benoit

01:12Amon.

01:17Stanford's Kartik Gata says tech deflation can fund UBI without higher taxes.

01:22Using his Atom theory, he predicts payments could reach $100,000 by the 2030s through monetizing

01:28tech's impact.

01:33Critics say taxing robots could hurt innovation and growth.

01:36The EU rejected a 2017 robot tax proposal, warning it might deter automation investment and reduce

01:42global competitiveness.

01:47Critics argue robot tax enforcement is impractical and could backfire.

01:51It risks deterring innovation, trapping workers in low-skilled jobs, and pushing companies abroad,

01:56hurting growth instead of helping it.

02:01Despite criticism, automation keeps rising.

02:05Post-pandemic, companies like Amazon expanded robotics.

02:08By 2030, 47% of workers may shift careers as AI replaces up to 300 million jobs worldwide.