Preparing for an AI tax crisis
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If artificial intelligence really does replace human labor, the U.S. could be in for a tax revenue crisis. Thatβs because high unemployment shrinks the pool of taxable wages. In this episode, we visit Akron, Ohio β the former tire capital of the world β to learn what happens when lost jobs snowball into lost government funding. Plus: Economists hope for cake but will settle for crumbs in Fed Chair Warshβs Jackson Hole Symposium speech, and a new plan for Colorado River drought management draws backlash.
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Read the stories in todayβs episode:
- Will Fed Chair Warsh actually say anything in his big Friday speech?
- Two years after Hurricane Helene, Asheville Tea Company finds a new home
- What Akron’s rubber bust can teach us about a possible AI tax crisis
- The new Colorado River plan is out, and it’s already under fire
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