This episode examines how a future where AI replaces human labor could trigger a tax revenue crisis, using Akron’s decline after losing its tire industry as a cautionary example. It also covers a new Colorado River management plan that is already facing pushback, and checks in on a small business’s recovery two years after Hurricane Helene. The show opens with what economists hope to hear from Fed Chair Warsh’s Jackson Hole speech.
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Highlights
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The AI tax revenue crisis
If AI-driven automation eliminates large numbers of jobs, the resulting decline in taxable wages could create a government revenue crisis similar to what happened in Akron after its rubber industry collapsed.
Asheville Tea Company rebuilds after Hurricane Helene
Two years after Hurricane Helene destroyed its original location, Asheville Tea Company has found a new home, showing how small businesses can recover from major natural disasters.