As labor is automated there will be increasing downward pressure on my kid's wages and job prospects. Harder work will be required to pay the taxes that are increased to make up for the falling wages.
As labor is automated, labor share of profits will fall under current arrangements; and the political pressure to change those arrangements will increase.
But the political pressure from the wealthy overrides the pressure from the average person. Hence taxes go up as wages fall in response to labor automation.
I guess if your kids absolutely must work on an assembly line.
On the other hand, as automation gets cheaper the barrier to entry for lots of different enterprises continues to go down. See Computers->Desktop Publishing->Web Enterprises or 3D Printers eliminating the need for expensive manufacturing.
Automation has increased by leaps and bounds over the last hundred years and comparative wages in industrialized countries have gone up.
If you want to look for dangers to your kids (assuming you're American), make sure you take a gander at the national debt. In particular, look at the nation's unfunded liabilities. It's probably too late to do much about them besides try to minimize their impact. The problem is already going to crush your kids.
> The problem is already going to crush your kids.
Yes, whether or not they work on an assembly line. The kids can't possibly pay all they'll be demanded to pay, but the consequences of that will be great as well. There may well be a revolution.
