The tax bills are in conference to hammer out the details for one big f*cking of the Middle Class……I have read what parts are not scribbled in some lobbyist lingo and found the one part that is most disturbing to me.
In my younger days I was a labor organizer for the IWW, yes I was a Wobbly and if you do not know that term then you are too young …….and as an organizer I fought hard for workers to to re-trained when their jobs were either outsourced or replaced by machines…..the new tax bill will screw the worker hard and with a smile…..
The section I am referring to…….
Encouraging corporations to automate ― without any help for displaced workers.
A provision of the tax bill would allow companies to deduct from their taxable income the entire cost of certain kinds of business investments that were previously only eligible for a 50 percent deduction. Traditionally, manufacturing firms and other infrastructure-heavy companies took advantage of the deduction to buy new factory equipment.
But the increase in the deduction comes at a time when corporations are investing in automation of their production facilities through the use of robots and artificial intelligence technology, noted Robert Kovacev, a corporate tax attorney for the Steptoe & Johnson law firm in Washington, D.C.
“It’s going to accelerate spending, basically, on robots that could displace workers,” Kovacev told HuffPost.
Kovacev is supportive of the deduction, because automation is likely to increase productivity ― defined as the amount of economic output generated per work-hour. And many experts maintain that, over the long run, this type of technological disruption is a net job creator.
That is likely to serve as cold comfort, however, for the mostly blue-collar workers displaced by automation in the short term. And Congress chose to speed up the automation process without any companion measures to offset the fallout for affected workers.
“It would be a good idea to pair this with a tax incentive to encourage companies either to employ more human workers or retrain them for jobs in the new economy,” Kovacev said.
Some progressive lawmakers have other ideas about how to address the harm caused by automation. For example, San Francisco County Supervisor Jane Kim has explored the idea of implementing a ”robot tax” on companies for every robot they employ to perform a job previously done by humans. The revenue raised by the tax would fund the retraining of displaced workers.
I approve of the “robot tax” and the money used to re-train workers for other aspects of the job.
Every trade union should be on this section of the bill like a pit bull with a lobbyist leg in its mouth.
The workers are screwed every time these cowards try to help their corporate masters….time for them to pay up to help the worker…..PERIOD!
“An injury to one is an injury to all”
Bring back the radicalization that was the IWW!
TTFN……tomorrow is another day……chuq