If we can automate most or all labor, how should we deal with the loss of jobs?

This seemed an appropriate question for labor day. Should we just lay off most workers and leave them to starve so corporate CEOs can keep getting million-dollar-a-year raises forever? Should we turn to some form of socialism, and if so, how should we divvy up the wealth produced by the robots? Or could we find gainful employment for all doing things outside manufacturing, in the arts, services, human to human interactions and such. What’s your vision for a future where cyborgs do all the heavy lifting and even fight the wars?