Bill Gates thinks that policy like the ‘rich tax’ that created ‘uproar’ in California is the only solution in the AI age; says: We can’t expect philanthropy as …
In a recent interview with the Financial Times, Bill Gates said governments should take the primary responsibility for tackling inequality. AI, some believe could make the world’s richest people even wealthier, but Bill Gates believes governments will need to do more to ensure that its benefits reach everyone. The Microsoft co-founder has backed progressive wealth taxes, including taxes on billionaires, arguing that philanthropy alone cannot address the growing gap between rich and poor in the AI age. He warned that charitable giving, even from the world’s wealthiest individuals, cannot replace public policy or act as a safety net for people affected by economic changes. His argument is that companies currently pay payroll taxes when they hire people, while buying a robot can often be treated as a business expense. This, he believes, could encourage businesses to replace workers with machines.