Machines certainly can make businesses and people more efficient, but I have never believed that A.I. itself makes us more intelligent.
Basically, Google AI, and I assume most A.I. programs, just regurgitate what they read. They do not appear to analyze or evaluate things to see how truthful they are.
The great danger is that people, especially children and people posing as journalists, will believe whatever something called artificial intelligence spits out.
I asked Google A.I. a simple math question.
Have Trump’s tax rate cuts from 2017 cost the government trillions of dollars?
Yes, most independent, non-partisan analyses of the 2017 Tax Cuts and Jobs Act (TCJA) found that the law significantly reduced government revenue by trillions of dollars over its first decade. The Congressional Budget Office (CBO) estimated the cuts would increase the deficit by approximately $1.9 trillion over ten years.
Instead of just answering the question with actual revenue receipts for the seven years of actual receipts from the seven years after 2017 from 2018 to 2024, the A.I. went to supposedly independent, nonpartisan think-tanks for the answer. And then, for no reason, it threw in the predictions from the CBO, as if that were meaningful. Predictions are not factual.
Somehow, when the A.I. was searching for answers, it missed this one.
Despite CBO’s Predictions, Trump Tax Cuts Were a Boon for America’s Economy and Working Families
The truth is, the Trump tax cuts resulted in economic growth that was a full percentage point above CBO’s forecast, and federal revenues far outpaced the agency’s predictions. In fact, under Trump tax policies in 2022, tax revenues reached a record high of nearly $5 trillion, and revenues averaged $205 billion above CBO predictions for the four years following implementation of the law.
Google AI clearly had the answer, because it readily gave me the actual individual income tax receipts for FY2017 through FY2024.
So, if Google AI were truthful and intelligent, it would have answered that the federal government collected $2.5 trillion more in individual tax revenues in the first seven years after the rate cuts, which was much higher than inflation.
By ten years, at the going rate, the government will have taken in around $5 trillion in additional income tax revenues, and corporate revenues have doubled from $262 billion in FY2017 to $529 billion in FY2024 despite cutting rates from 35% to 21%.
Total income tax receipts will be over $6 trillion by the tenth year after the cuts. That puts to shame the CBO’s worthless predictions. So when the CBO predicts that keeping the rates the same in the future will cost over $3 trillion over the next ten years, it is just nuts and biased. The people there haven’t learned from history.
People believe that the answers an A.I. will provide involve analysis and facts. But Google AI frequently just regurgitates talking points pushing the leftist agenda.
Image via Pexels.