Why Google Needs to Build a Better Bumper
Google unleased its self-driving fleet in real traffic and let the cars cruise a total of a million miles with back-up drivers ready to hit the brakes or take the wheel. The humans didn’t take control.
As it turned out, there were 11 minor accidents and no injuries, according to Google’s Chris Umson, who claimed that none of the fender benders was Google’s fault. He told the Associated Press that all the self-driving cars behaved well (not bad, considering the cars just got their learners’ permits). He also said most were hit from behind.
Not so fast, Google. Delphi, which automated the Audi SQ5, claims its car was broadsided by a Google car. Hmmm. Lexus vs. Audi, Google vs. Delphi—sounds like bumper cars!
Related: Driverless Self-driving Truck of the Future Will Crash Into Labor Laws of the Past
Other companies have permits to test their driverless cars including Daimler/Mercedes, Honda, and Nissan with Volkswagen and a host of others on tap.
This is not going away—and in the case of Daimler, they’ve extended the technology to trucks.
For older people and the disabled, who need a little help driving and parking, an autonomous car could be the difference between independence and a shut-in life.
If, on the other hand, these cars decide to “think,” we could all be in trouble.
Attention Autobots! Start Your Engines!
Chart of the Day: Boosting Corporate Tax Revenues
The leading candidates for the Democratic presidential nomination have all proposed increasing taxes on corporations, including raising income tax rates to levels ranging from 25% to 35%, up from the current 21% imposed by the Republican tax cuts in 2017. With Bernie Sanders leading the way at $3.9 trillion, here’s how much revenue the higher proposed corporate taxes, along with additional proposed surtaxes and reduced tax breaks, would generate over a decade, according to calculations by the right-leaning Tax Foundation, highlighted Wednesday by Bloomberg News.
Chart of the Day: Discretionary Spending Droops
The federal government’s total non-defense discretionary spending – which covers everything from education and national parks to veterans’ medical care and low-income housing assistance – equals 3.2% of GDP in 2020, near historic lows going back to 1962, according to an analysis this week from the Center on Budget and Policy Priorities.
Chart of the Week: Trump Adds $4.7 Trillion in Debt
The Committee for a Responsible Federal Budget estimated this week that President Trump has now signed legislation that will add a total of $4.7 trillion to the national debt between 2017 and 2029. Tax cuts and spending increases account for similar portions of the projected increase, though if the individual tax cuts in the 2017 Republican overhaul are extended beyond their current expiration date at the end of 2025, they would add another $1 trillion in debt through 2029.
Chart of the Day: The Long Decline in Interest Rates
Are interest rates destined to move higher, increasing the cost of private and public debt? While many experts believe that higher rates are all but inevitable, historian Paul Schmelzing argues that today’s low-interest environment is consistent with a long-term trend stretching back 600 years.
The chart “shows a clear historical downtrend, with rates falling about 1% every 60 years to near zero today,” says Bloomberg’s Aaron Brown. “Rates do tend to revert to a mean, but that mean seems to be declining.”
Chart of the Day: Drug Price Plans Compared
Lawmakers are considering three separate bills that are intended to reduce the cost of prescription drugs. Here’s an overview of the proposals, from a series of charts produced by the Kaiser Family Foundation this week. An interesting detail highlighted in another chart: 88% of voters – including 92% of Democrats and 85% of Republicans – want to give the government the power to negotiate prices with drug companies.
