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The rise of AI poses a significant threat to the job market, leading to increased job insecurity and a decline in federal tax revenue. As AI systems replace human workers across various sectors, the traditional income-based tax model becomes unsustainable. Urgent measures are needed to adapt the taxation system to address the economic challenges posed by widespread unemployment.
A proposed solution involves taxing the commercial use of AI to compensate for lost wages and support mechanisms for the unemployed. This approach shifts the focus from taxing human labor to taxing AI-generated work, ensuring that the benefits of automation are shared with society. Without proactive planning, the future could lead to severe economic disparities reminiscent of dystopian scenarios.
• AI is rapidly advancing, threatening job security across multiple sectors.
• Taxing AI-generated work could provide funding for Universal Basic Income.
UBI is a proposed financial support system for individuals who are unemployed due to AI job displacement.
AI-driven systems refer to technologies that automate tasks traditionally performed by humans, impacting job availability.
Taxation of AI involves creating a framework to tax the economic output generated by AI systems.
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