Andrew Yang Renews Call for AI Tax, Cites Bridgewater Warning
Former presidential candidate Andrew Yang pushes for taxing AI to offset job losses, citing Bridgewater's 18% displacement estimate.
Andrew Yang, the former U.S. presidential candidate known for his universal basic income proposals, has revived his call for shifting the tax burden from payroll to artificial intelligence. Yang argues that taxing AI-driven automation could help fund social safety nets as machines replace human labor.
In an interview, Yang pointed to a recent warning from Bridgewater Associates, the world's largest hedge fund, that AI could displace up to 18% of the global workforce. He framed this as a reason to rethink how governments collect revenue in an era of rapid automation.
The Bridgewater Warning
Bridgewater's analysis, reported earlier this year, suggests that AI advancements could significantly reduce the need for human workers across multiple industries. The firm called for new policy responses to manage the transition, including potential taxes on AI-related productivity gains.
Yang has long advocated for a 'robot tax' or similar mechanisms, arguing that companies benefiting from AI should contribute to programs like universal basic income. His renewed push comes as governments worldwide debate how to regulate and tax emerging technologies.