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By Paul Brandus

Robots don’t pay into Social Security. Maybe we should tax them instead.

Robots are deeply embedded in corporate America.

The basic construct of Social Security is this: Workers and their employers pay taxes. When a worker retires years later, those funds are paid back each month in the form of a Social Security check.

But what will happen to this 90-year-old model as robots and artificial intelligence reduce the demand for taxpaying human workers?

Rise of the robots

This is no hypothetical question. Robots are deeply embedded in corporate America, ranging from retail giants like Amazon (AMZN) (which just said it has more than a million robots on the job) and Walmart (WMT), to automakers, aerospace firms, pharmaceuticals, on and on. Even fast-food restaurants – often the first job for millions of Americans – are using robots to flip burgers. The list of industries and companies will only get longer.

And robots – which don’t call in sick, take bathroom breaks, take vacations or need healthcare – are a huge boon to employers. So is the tax code, which currently treats machines as capital equipment and not an employee. So companies get higher productivity and don’t have to pay Social Security taxes to Uncle Sam.

So as taxpaying workers are gradually replaced by robots or artificial intelligence, the strain on Social Security grows. Keep in mind that it is already being squeezed on both ends by longer lifespans and a U.S. birthrate which has sunk to a record low.

We’ve mentioned umpteen times that unless something is done, Social Security’s wobbly Trust Fund – paid by workers and their employers – could run out as soon as 2032. That would mean sharp cuts – perhaps as much as 24% of benefits.

We’ve also mentioned possible remedies: Raising the minimum age when someone could take Social Security (currently 62), raising the retirement age (67 for most people), or raising taxes on workers and employers, or lifting the cap on earnings that are subject to taxes in the first place. All involve politicians doing something they hate to do, and that is asking voters to make a sacrifice. That’s why no one has been able to do anything about Social Security in more than four decades. That’s where a “robot tax” could come in.

The robot tax

In a cruel irony, taxpayers have helped create this problem, by subsidizing, for years, billions in research and development for corporate America. As this R&D results in technology that displaces workers, should the robots and AI we helped develop be taxed, with revenue flowing back to those displaced workers?

Ancillary to this is growing talk of some form of universal basic income (UBI), which can be compared with Social Security in the sense that it would involve Americans getting money from the government each month.

Who would pay for this? Joe Taxpayer? What about corporations which have benefited the most from these technologies? Surely corporate America would fight any form of taxation or redistribution of wealth, right? Yet even in the high-flying tech industry, many prominent executives say something needs to be done about jobs that are being erased by technology. Among them: Elon Musk of Tesla (TSLA), SpaceX and X; Meta (META) CEO Mark Zuckerberg; Microsoft (MSFT) co-founder and philanthropist Bill Gates; and venture capitalist Marc Andreessen. Others have actually put their money where their mouth is. Sam Altman, the chief executive of OpenAI (creator of ChatGPT) gave 1,000 people $1,000 a month for three years to study the feasibility of UBI.

How might this be financed? Andrew Yang, previously an unknown businessman, made a splash during his presidential run in 2020 when he floated a $1,000-a-month “freedom dividend,” to be given to every adult and financed partly through a national value-added tax (VAT). But if Congress won’t raise taxes to prop up Social Security, what makes anyone think it would pass a VAT tax?

And not everyone is a fan of such wealth redistribution.

Universal basic income is “one of the worst possible responses” to automation, tech billionaire Mark Cuban has said. Instead, Cuban has suggested more traditional approaches, like greater investment in AmeriCorps, a federally subsidized program that places workers in full- or part-time positions providing social support services to communities. He also says investment in basic education and skills training should be increased.

Whatever the approach, no one doubts that waves of new technology will continue to eliminate jobs. But hasn’t this always been the case? The famed Pony Express, which rushed the news of Abraham Lincoln’s election to California in November 1860, went out of business less than a year later, after the telegraph made coast-to-coast communications infinitely faster. At the turn of the 20th century, 40% of Americans worked on farms. Today? About 1.2%. The automobile wiped out horse-and-buggy manufacturers. Advances in numerous sectors brought about similar disruption. These greater economic efficiencies spurred migration to new jobs in new industries, and a gradual rise in our standard of living.

And yet economic disruption will never be without pain, particularly for older workers who have less time to learn new skills and recover from a job setback. This makes our existing social safety net more important than ever.

Social Security – which for tens of millions of Americans is the only income they have – must be preserved. But as its tax base continues to be eroded by waves of robots and increasingly sophisticated artificial intelligence, something must be done. The sooner the better.

Read more MarketWatch Retirement:

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Social Security’s ‘DOGE’ whistleblower is running for public office as the ‘longest of long shots’

-Paul Brandus

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“We go the distance to champion California’s backyard because it’s our backyard too,” said Sean Gilpin, chief marketing officer, Hyundai Motor America. “We saw this partnership with Mammoth Mountain as a great opportunity to showcase the capability of our SUV and XRT vehicle lineup and show adventure seekers how Hyundai can take them and their families on any journey from the mountains and beyond.”

Whether conquering rugged terrain or providing comfort and safety for family trips, Hyundai XRT vehicles, including the Palisade XRT Pro, Tucson XRT, and Santa Fe XRT SUVs, are engineered to be adventure-ready for both thrill-seekers and families. They are built for off-road adventure and offer versatility. With Mammoth Mountain serving as a premier California destination for world-class snowboarders, skiers and families alike, Hyundai’s vehicles are perfectly suited to take guests on any journey, from exhilarating slopes to unforgettable family getaways.

“Mammoth is thrilled to announce a multi-year partnership with Hyundai,” said Eric Clark, CEO and President, Mammoth Mountain. “Grounded in shared values of fun, adventure, and family inclusion, this collaboration was a natural fit from the start. We’re excited to join forces in celebrating our shared backyard and can’t wait to see what we create together.”

About the Partnership
The 360-degree, multi-year partnership with Mammoth Mountain will include a variety of digital and on-site branding, merchandise and advertising opportunities, as well as custom social content to be shared on Hyundai and Mammoth channels.

The custom content will include a social and creative campaign featuring Woolly, Mammoth Mountain’s beloved mascot. Exclusive video and photos will showcase Woolly alongside Hyundai XRT vehicles, providing fans with a unique and engaging perspective on Mammoth Mountain and the Hyundai adventure experience.

Hyundai will also have two permanent vehicle displays at the resort, as well as winter and summer activation opportunities at key times. Hyundai will sponsor Mammoth Mountain’s signature kickoff event, “Night of Lights,” and support community initiatives throughout the season, which may include programs like LA’s “After School All-Stars.”

Night of Lights Event
The partnership will launch at Mammoth’s Night of Lights event on Saturday, December 13, from 5:00 p.m. to 9:30 p.m. PT. Night of Lights is a magical evening at Mammoth Mountain featuring an annual holiday celebration with fireworks, live music, family-friendly activities and festive cheer.

As a sponsor of Night of Lights, Hyundai will have a vehicle display in The Village. Hyundai is also partnering with local Mammoth coffee vendor, Black Velvet Coffee, to offer guests warm beverages on site, including a bespoke Hyundai espresso drink. The mobile “Après Ski Café” will be towed behind a Palisade XRT Pro, and guests can also receive custom s’mores kits and co-branded wool socks and hand-warming phone chargers.

To amplify the celebration, select influencers, including family and lifestyle creators, snowboarders, skiers, and photographers, will embark on a thrilling road trip to Mammoth in Hyundai SUVs such as the all-new Palisade XRT Pro. Over the weekend, they’ll create and share content featuring Hyundai vehicles in stunning alpine settings, showcase off-road winter driving, and highlight activities such as skiing, snowboarding, and VIP access to Night of Lights. Their stories will bring Hyundai’s adventure-ready spirit to life across social platforms, igniting excitement in the audience.

Supporting California’s Coast
As part of Hyundai’s broader commitment to supporting California’s spirit of adventure and outdoor communities, Hyundai will also be a proud supporter of the lifeguards in San Diego, with more details to be announced in early 2026.

Hyundai Motor America
Hyundai Motor America offers U.S. consumers a technology-rich lineup of cars, SUVs, and electrified vehicles, while supporting Hyundai Motor Company’s Progress for Humanity vision. Hyundai has significant operations in the U.S., including its North American headquarters in California, the Hyundai Motor Manufacturing Alabama assembly plant, the all-new Hyundai Motor Group Metaplant America, and several cutting-edge R&D facilities. These operations, combined with those of Hyundai’s 850 independent dealers, contribute $20.1 billion annually and 190,000 jobs to the U.S. economy, according to a published economic impact report. For more information, visit www.hyundainews.com.

Hyundai Motor America on Twitter | YouTube | Facebook | Instagram | LinkedIn | TikTok

SOURCE Hyundai Motor America

Introduces 2028 Financial Targets Reflecting Enhanced Growth and Profitability

Announces Plan to Return $10 Billion to Shareholders Through 2028

ST. LOUIS, Nov. 20, 2025 /PRNewswire/ — Emerson (NYSE: EMR) today hosted its 2025 Investor Conference, during which it outlined its strategic priorities for engineering the autonomous future and introduced new 2028 financial targets.

“The new Emerson is a global automation leader built for value creation – with a differentiated portfolio, broad exposure to high-growth markets and an unparalleled software-defined technology stack,” said Emerson President and Chief Executive Officer Lal Karsanbhai. “With our successful transformation complete, Emerson is well positioned for the future, and we will continue to play a leading role as our customers invest in autonomous operations.”

Karsanbhai continued, “The 2028 targets we provided today underscore our conviction in Emerson’s ability to extend our track record of strong financial performance and deliver even greater value for our shareholders. Emerson will capture significant organic growth from innovation and secular tailwinds across our key growth verticals: power, LNG, life sciences, semiconductors and aerospace & defense. Price realization, operational excellence and acquisition synergies will drive further margin expansion. Supported by robust cash generation, we will prioritize returning significant capital to shareholders.”

Emerson also provided an updated through-the-cycle value creation framework:

• 4 – 7% organic sales growth
• 40% incremental margins
• 10% adjusted EPS growth
• 18 – 20% free cash flow margin

Consistent with the value creation framework, Emerson’s new 2028 financial targets include:

• $21 billion in net sales, a 5% organic CAGR
• 30% adjusted segment EBITA margin, 2.4 percentage points of expansion
• $8.00 adjusted EPS, a 10% CAGR
• $12 billion of cumulative free cash flow from 2026 through 2028, with plans to return $10 billion to shareholders through share repurchases and increased dividends

The Company also reiterated its 2026 Q1 and full-year outlook provided on November 5, 2025.

The Investor Conference webcast replay and presentation are available on Emerson’s Investor Relations page at https://ir.emerson.com/.

About Emerson

Emerson (NYSE: EMR) is a global automation leader delivering solutions for the most demanding technology challenges. Headquartered in St. Louis, Missouri, Emerson is engineering the autonomous future, enabling customers to optimize operations and accelerate innovation. For more information, visit Emerson.com.

Forward-Looking and Cautionary Statements

Statements in this press release that are not strictly historical may be “forward-looking” statements, which represent management’s expectations, based on currently available information. Actual results, performance or achievements could differ materially from those expressed in any forward-looking statement. Any forward-looking statements in this press release speak only as of the date of this press release. Emerson undertakes no obligation to update any such statements to reflect new information or later developments. Examples of risks and uncertainties that may cause our actual results or performance to be materially different from those expressed or implied by forward looking statements include the scope, duration and ultimate impacts of the Russia-Ukraine and other global conflicts, as well as economic and currency conditions, market demand, pricing, protection of intellectual property, cybersecurity, tariffs, competitive and technological factors, inflation, among others, as set forth in the Company’s most recent Annual Report on Form 10-K and subsequent reports filed with the SEC. The outlook contained herein represents the Company’s expectation for its consolidated results, other than as noted herein.

Emerson uses our Investor Relations website, https://ir.emerson.com, as a means of disclosing information which may be of interest or material to our investors and for complying with disclosure obligations under Regulation FD. Accordingly, investors should monitor our Investor Relations website, in addition to following our press releases, SEC filings, public conference calls, webcasts and social media. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document.

SOURCE Emerson