Keith Hall Taft Blogger

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  As America's former 2 largest generations retire, AI, drones and robotics are replacing younger workers at an astounding rate. Along with the astronomical cost of Covid upon the Social Security funded Medicare system, this is creating an overflow of problems for Social Security which is reportedly scheduled to run out of trust fund reserves in 2034. A similar situation occurred in 1983 when President Reagan and a Democrat Congress overhauled the Social Security system. Actually, the cap on the maximum amount of earnings taxed by FICA was raised almost every year since the 1950s. FICA funded both Social Security and Medicare until 1991. Maybe new automation should be FICA taxed also and Basic Income like the Covid stimuluses (or else Gauranteed Jobs) - which jumped the US economy to its highest level ever - should be FICA taxed and re - implemented.

  AI is going to replace half of all white collar jobs and in the next 5 years half of all entry level jobs: - LinkedIn - Linked In 2017: 'Each additional robot in the US economy reduces employment by 5.6 workers, and every robot that is added to the workforce per 1,000 human workers causes wages to drop by as much as 0.25 to 0.5 percent. Such are the conclusions reached by MIT’s Daron Acemoglu and Boston University’s Pascual Restrepo, who published their findings at the National Bureau of Economic Research.' Robots Are Already Replacing Human Workers at an Alarming Rate  - Gizmodo - NPR - The Equality of Opportunity Project - Wikimedia Commons Chart by Angus Maddison wiki. - CNBC The US has 4% of the world's population. - CNN - UCR EDU - Detroit Free Press - ISHN   - USA Today - AI Overview Generation X was born between 1960 and 1980, Not 1965 to 1980, making it larger than the millennial generation. - Huffpost - AI Overview - AI Overview - NY Times How AI is Impacting ...