Ray Madoff

And it's interesting.

I was at a program the other day, actually one where Scott got an award, and leadership now.

Somebody was speaking, an AI expert was speaking about, well, how AI might very well be disruptive, right?

We're going to replace a lot of...

a lot of workers with AI agents.

And he said, well, the answer is going to have to be UBI, universal basic income.

And I'm thinking, and who's paying for this universal basic income?

Because in fact, when you look at our income tax system, right, 85% of the revenue

comes from individuals and labor and payroll taxes.

And so if we remove workers and we're going to have massive capital growth, we're going to have a lot fewer workers, we're going to really suffer in the amount of revenue that we're raising under our existing system.

So I think it's a serious problem.

So one thing is that we need to address is by making sure that we are in fact taxing capital because under our current system, we don't tax capital.

And that's, of course, where all the gains are occurring.

as opposed to taxing companies, I think that we're going to have to figure out how to do it.

I don't have the particular answer to it, but we're going to have to find a way of bringing this massive growing concentrations of wealth into our tax system as well, either under corporate taxes, business taxes, or special AI taxes.

The big problem is

I love your question.

Thank you for that.

The answer starts with educating the public.

As you started your very first question, right, people are being told that the rich people are already paying taxes.