I think it could be done in another way. establish a percentage of profits that should go to those creating the profits.Labor. When labor is replaced by automation, establish the percent of profit that should go to labor
and add that percentage toa general labor fund for retraining r early retirement.
This seems like a reasonable idea, which is the problem: it's reasonable. There's not a politician currently in office who would sign up for such a thing because it might actually solve the problem, or at least illuminate a better solution.
You do, however, touch upon something that is causing me a great deal of angst: automation.
Currently, around 15% of the population of the US has an IQ below 85. That means those people are essentially unemployable in a highly technological society. (NOTE: I did NOT say they are worthless; I simply said they can't be readily trained to do things that people are willing to pay a reasonable wage for).
Around half the population has an IQ below 100 (by definition, since 100 is the average). What jobs are typically done by people with a 100 or below IQ?
Fast Food
Assembly Line
Secretarial
Accountant
Paralegal
Welder/Truckdriver/Transportation
In short, jobs that are going to be automatable in another 15 or 20 years.
As those jobs go away, new jobs will become available, as has always been the case with new technologies. But those new jobs will require greater technological sophistication.
At some point, I fear we're going to dig ourselves a hole we can't dig ourselves out of without things getting bloody. That really concerns me, because it represents such an enormous waste of resources (human and otherwise). As an engineer, that just really grates my nerves.