Why am I not surprised?
Billionaire software mogul Bill Gates has joined the growing chorus of tech experts who predict that low-skill Americans will face greater unemployment because more jobs are being done by software and robots.
The Microsoft founder, whose net worth is $76 billion, suggested the problem could be fixed by reducing taxes on employers and raising taxes on employees, via the reduction of payroll taxes and the addition of new federal consumption taxes.
The widening recognition of greater low-skill unemployment is also creating a problem for the many executives — including Gates — and lobbyists and legislators pushing for increased immigration. They back the Senate’s immigration bill, which would dramatically increase the supply of foreign labor, despite Americans’ high unemployment rates.