> One possible scenario is that more jobs are lost than created, hurting the program’s long-term financial health. An estimated 2.5% of U.S. employment is at risk if AI expands across the economy and cuts employment in proportion to productivity gains, according to Goldman Sachs.
> […]
> Social Security has been dipping into its trust fund’s reserves to make recipients whole, and this steady erosion will cause the retirement fund to be depleted in 2033, according to the Trustees’ projections. Barring a Congressional fix, beneficiaries will then face an automatic benefit cut of 23%–the portion that the trust fund had been making up.
> How might AI alter this timeline? If the technology causes widespread job losses, reducing payroll tax revenue, the reserves could run out sooner. Conversely, if AI boosts productivity and wages while the workforce continues to grow, that could push the depletion date out further.
CanvasFanatic on
Yeah we’re gonna have to burn down the data centers.
Morganrow on
I haven’t heard much positive from the AI investors other than it makes money. All I hear is massive data centers using the power equivalent of a small city to just make plagiarized essays that aren’t even accurate or fake tik tok videos. AIs publicist is so bad
djbarsone on
Spoiler alert – social security been bankrupt for a long time
nopointinnames on
If AI was so dang amazing can’t it create new jobs for itself instead of taking someone else’s with them being told “new types of jobs will be created”
panchiramaster on
This was the plan all along.
GarnerGerald11141 on
OMG! A.I. has nothing to do with an established entitlement. How can we steal money from Americans?…
LinkedInParkPremium on
We don’t need AI for poor decision making and rampant fraud. That is what is happening right now.
AtomicHurricaneBob on
Just raise the payroll tax. When was it last changed? 1990s?
letdogsvote on
“Feature not a bug.” – MAGAs
Student-type on
Maybe we need some smart Senators to withhold any more money from Big Tech AI
unless and until “application of AI IN THE AMERICAN ECONOMY CAN BE PROVEN TO have REVENUE-POSITIVE AND COST-NEGATIVE Economic impact for each state it is active and available in”
Maybe there’s better legal phrases, but let the intent of such a body of law to be unmistakable.
Any improvements?
Ancient-Bat8274 on
How much longer until angry mobs?
Minimum_Passing_Slut on
Very state the obvious article. Mass unemployment = less taxes for social security thus it runs out of funding quicker.
13 Comments
Gift link. Excerpt:
> One possible scenario is that more jobs are lost than created, hurting the program’s long-term financial health. An estimated 2.5% of U.S. employment is at risk if AI expands across the economy and cuts employment in proportion to productivity gains, according to Goldman Sachs.
> […]
> Social Security has been dipping into its trust fund’s reserves to make recipients whole, and this steady erosion will cause the retirement fund to be depleted in 2033, according to the Trustees’ projections. Barring a Congressional fix, beneficiaries will then face an automatic benefit cut of 23%–the portion that the trust fund had been making up.
> How might AI alter this timeline? If the technology causes widespread job losses, reducing payroll tax revenue, the reserves could run out sooner. Conversely, if AI boosts productivity and wages while the workforce continues to grow, that could push the depletion date out further.
Yeah we’re gonna have to burn down the data centers.
I haven’t heard much positive from the AI investors other than it makes money. All I hear is massive data centers using the power equivalent of a small city to just make plagiarized essays that aren’t even accurate or fake tik tok videos. AIs publicist is so bad
Spoiler alert – social security been bankrupt for a long time
If AI was so dang amazing can’t it create new jobs for itself instead of taking someone else’s with them being told “new types of jobs will be created”
This was the plan all along.
OMG! A.I. has nothing to do with an established entitlement. How can we steal money from Americans?…
We don’t need AI for poor decision making and rampant fraud. That is what is happening right now.
Just raise the payroll tax. When was it last changed? 1990s?
“Feature not a bug.” – MAGAs
Maybe we need some smart Senators to withhold any more money from Big Tech AI
unless and until “application of AI IN THE AMERICAN ECONOMY CAN BE PROVEN TO have REVENUE-POSITIVE AND COST-NEGATIVE Economic impact for each state it is active and available in”
Maybe there’s better legal phrases, but let the intent of such a body of law to be unmistakable.
Any improvements?
How much longer until angry mobs?
Very state the obvious article. Mass unemployment = less taxes for social security thus it runs out of funding quicker.