Chris Zell <[email protected]> wrote: I wonder where a majority of the US public – that is currently reported as > being unable to come up with a sudden $500 check – will get the money for > these pipedreams. >
The internet and the GPS are already paid for. They are profitable. They are making huge profits, in fact. If you mean self-driving cars, they will be far cheaper than today's automobiles. That is, when you take into account the total cost of ownership, including insurance and accidents. The car itself will cost more, but accident insurance will be much cheaper, because serious accidents will be rare once all of the cars on the road are fully automatic. Before that, your self-driving car will seldom be the cause of an accident, so the cost will be covered by the owner of the other car. The cost of an accident might actually be covered by Google or Ford, or whoever makes the software. Since you will not be driving, it won't be your fault. There is vigorous discussion about that right now. That is one of many issues that has to be worked out before these cars can be widely used. The cost of a Model T eventually fell to around $260, new. You might think that was the cheapest car in history, but it wasn't. Today's automobiles are the cheapest they have ever been when you take into account: 1. General inflation, and percent of earnings. 2. The longevity of today's cars. They last far longer than a Model T, and they go farther. I believe old cars seldom went more than 20,000 miles. 3. The longevity of tires and other components. The improvements in tires have been especially remarkable. Around 1910, top quality tires cost $50 to $70 each, in 1910 dollars, which is about $1,200 in today's dollars. I do not recall how long they lasted but I think it was a few thousand miles. Drivers could expect a puncture every 125 miles or so. http://www.carhistory4u.com/the-last-100-years/parts-of-the-car/part-2-section-6 4. The cost of maintenance and repairs is much cheaper today. 5. Most of all, the cost of accidents and insurance. I tend to keep cars a long time, like 24 years (my present car). Over the life of the car I pay way more in insurance than for the car itself. With self driving cars we reduce fatalities from 30,000 to a few hundred per year. So: 6. Other losses to accidents and deaths not covered by insurance. It is difficult to put a price tag on 30,000 lives per year, and hundreds of thousands of serious injuries, but the cost is high. > And then we have the CBO projections that all tax dollars beyond debt > payment and entitlements will vanish in about 7 years. I also understand > that this ‘tapped out’ condition goes all the way up people making 75K a > year. > I don't see this as a big problem. We will just have to go back and tax wealthy people at the same rate we did in the Clinton administration. The entire debt can be paid off pretty soon with that. I am wealthy, and I had no difficulty paying taxes under Mr. Clinton, so I wouldn't mind. It is a tempest in a teapot. Rich people can easily afford to pay more, and as soon as we do, the problem is solved. - Jed
