Veritas
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- Aug 7, 2003
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And no amount of tax incentives to industry will keep them from going for automation if it is possible.
So let's just punish them out of business with confiscatory tax rates? Gee, that makes a lot of sense.
We need to give up the fiction that giving kickbacks or tax incentives to businesses incentivizes them to care one whit about the workers.
You need to disabuse yourself of the notion that businesses exist solely for the benefit of the employees. People don't start companies as as conduit for jobs. They start companies because they have a product or service that people want. In order to deliver it, they have to hire people to make, distribute or serve. In the process, those workers earn market-based wages and benefits. If the business can no longer provide the product or service in a profitable way, they eventually go out of business. That would be true regardless of whether they used automation or human workers. The fact is, progress will drive these innovative technologies to create efficiencies. Do you want to go back to the horse and buggy days?
In publically traded companies the ONLY people that I am aware of who are mandated by law to be taken care of are investors.
There is no SEC regulation that mandates investors "be taken care of". I know. I'm in the industry. The only regulations publically traded companies are required to follow regarding investors, is filing accurate financial disclosure documents so that investors can make informed decisions. Perhaps you're unaware that people who invest in stocks have zero protection should the company go bankrupt. They assume 100% of the risk that they could lose all their money.
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