Who Will Have Work in 2022?

We’ve laid the ground work in a couple of recent Peoplenomics reports (“Tax Robotics: Unwrapping the Future” and “Taxing Thoughts: Fighting the Wrong War.”)  The first report deals with the new technologies such as 3D printing that will continue to impact manufacturing and then there is the ongoing destruction of labor demand by ever-increasing levels of factory automation.  Then we look at the problem of funding government’s various roles via the income tax on humans, but not machines, in the “Taxing Thoughts” report.  Here, we learn, among other things, that excluding retirement programs and miscellaneous income, the government gets about 74% of its revenue from the personal income tax. (*excluding the pension game and some other asterisks)  Today we look at what seems likely to happen in the future as these trends collide.  Interest-bearing/compounding capitalism is about to collide with a world of finite resource and the results – like those old train wreck movies – should be a real sight to behold!

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