Summary
The growing use of robots and artificial intelligence (AI) in the workplace could impact the funding for Social Security in the United States. As robots replace human workers, they do not pay into the Social Security system the same way people do. This shift could lead to funding problems for Social Security by the early 2030s.
Key Facts
- Robots and AI are increasingly used in various industries.
- Social Security relies on taxes paid by workers and employers.
- Robots do not contribute to Social Security taxes like human workers.
- The Social Security Administration (SSA) may face a funding gap by the 2030s.
- Retirees could receive about 80% of expected benefits if the issue is not resolved.
- Some suggest taxing robots or changing tax policies to address the funding gap.
- There is debate about how automation impacts Social Security and job markets.
- Proposed fixes, like raising the retirement age, lack wide support.
