Fox Business Host Charles Payne shares his views on the day with the digital revolution of AI and “Making Money.”
A new Senate report warns that artificial intelligence can drive nearly 100 million U.S. jobs within the next decade, spurring Democrats to push for “robot tax” on businesses that replace human workers with technology.
The analysis produced by Democrats on the Senate's Health, Education, Labor and Pension (Help) committee was driven by Senator Bernie Sanders (I-VT).
20 major workforce sectors were investigated, partially informed by responses from ChatGpt. 15 has found that more than half of the positions will be replaced by AI systems or robotics.
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The robots from the laboratory “Artificial Intelligence (AI)” make pizza at the University of Bremen in Germany. (Photo: Ingo Wagner / Getty Images / Getty Images)
The biggest hits have been fast food and counter workers, with an estimated 3 million jobs lost, about 89% of that workforce, according to the report.
Other high-risk fields include customer service, freight and material movers, and executive assistants, with forecast automation rates above 80%.
The report also urges lawmakers to stand up to what Sanders calls an “economic crossroads.”
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Robot trading in the stock market shows the artificial intelligence of forex brokers by analyzing business charts with investment financial data and trading on stock exchanges using computer software. (istock / istock)
The core of the proposal is the robot tax. This means that companies pay taxes on each position replaced by machine, technology or algorithms.
The funds will help to regain lost payroll taxes and support retraining programs for displaced people.
Sanders argues that the robot tax balances corporate profits with citizen responsibility.
Microsoft founder Bill Gates reflects a similar idea, suggesting that businesses that benefit from automation should “pay a fair share” to mitigate economic disruption.
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US Sen. Bernie Sanders (I-VT) was chairman of the Senate's Health, Education, Labor and Pensions Committee and was behind the report. (Kevin Dietsch / Getty Images / Getty Images)
The Senate report also outlines the labor agenda, which includes 32-hour work week, a federal minimum wage of $17, stronger overtime protections and equity interests for workers in the auto industry.
The authors emphasize that the impact of AI is “unpredicted” but depends on current policy choices.
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In his co-authored Fox News Digital Op-Ed Monday, Sanders warned that unregulated automation could “dehumanize” the economy and put efficiency above dignity.
“We need a world where people are healthier, happier and more fulfilling lives. Machines are not the ones who make all the money,” writes Sanders.
