As optimism grows around strong U.S. economic data and artificial intelligence-driven productivity gains, a debate has erupted among top tech leaders over whether rapid growth could deepen inequality — and whether taxing AI may be part of the solution.
Strong GDP Growth Sparks Tech Leaders’ AI Debate
U.S. gross domestic product expanded at a 4.3% annualized rate in the July-to-September period, according to the Bureau of Economic Analysis’ initial estimate, fueling renewed enthusiasm around economic momentum.
Reacting to the data, venture capitalist Marc Andreessen wrote on X, “It’s time to grow,” prompting a broader discussion about the role of AI in accelerating the economy.
Elon Musk Predicts Double-Digit, Even Triple-Digit Growth
Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk responded by projecting an even more dramatic outlook, saying double-digit economic growth could arrive within 12 to 18 months.
“If applied intelligence is proxy for economic growth, which it should be, triple-digit is possible in ~5 years,” he said on X.
Mark Cuban Warns About Wealth Concentration And Social Fallout
While not disputing AI’s growth potential, Mark Cuban raised concerns about who benefits from that expansion.
“How concentrated do you think the wealth generation will be?” Cuban asked, questioning the second-order social effects of rapid productivity gains.
He warned that failing to plan could make policy responses impossible once hyper-growth begins.
Tax The AI: The Case For Robot Taxes
The conversation turned toward taxation after former Binance Chain growth director Tomasz Wojewoda suggested that “tax the rich” could evolve into “tax the AI,” arguing that machines replacing human labor should shoulder more of the tax burden.
Cuban agreed, saying discussions around a robot tax need to start now.
” I like a straight amount per hour of use, per robot or cobot,” Cuban said, adding that the form of the technology shouldn’t matter.
National Stability Versus Global Competition
Addressing concerns that robot taxes could hurt international competitiveness, Cuban argued that unchecked inequality poses a greater risk.
“Every country will face the prospect of national instability if the economics get out of [whack],” he said, calling that outcome far more costly than taxing AI-driven productivity.
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Disclaimer:Â This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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