Posted on 11/11/2020 11:37:45 PM PST by RandFan
The remote working and learning taken as a preventative measure against COVID-19 transmission has rendered millions of Americans housebound. Offices, schools and other public working spaces have been closed for months as the pandemic rages on.
A new report commissioned by financial giant Deutsche Bank proposes that for individuals who continue to work from home rather than in an office, a 5 percent income tax should be levied to support lower income workers who do not have the opportunity to stay home.
As part of its “Rebuild” report, Deutsche Bank calculates that the average worker would not be any worse off by paying this tax because of the costs saved when working remotely, Business Insider reports.
The hypothetical tax has the potential to generate $49 billion per year in the U.S., as well as 20 billion euros for Germany and 7 billion pounds in the U.K.
Its goals would be to help support lower-wage workers who must return to their offices daily despite the global health crisis.
It notes that the self-employed and lower-paid staff should be excluded from the tax, and only apply in countries where the government has not instructed people to work from home.
In the U.S., the Centers for Disease Control and Prevention (CDC) has not formally ordered all work spaces be shut down amid the pandemic. It does offer tips on how to protect staff and slow the spread of COVID-19 around office buildings.
"Working from home will be part of the 'new normal' well after the pandemic has passed. We argue that remote workers should pay a tax for the privilege," Jim Reid, research strategist at Deutsche Bank, said in the report.
A 5 percent income tax for remote workers is justified primarily from the money saved between transportation and food, as well as the added flexibility working remotely creates.
"That means remote workers are contributing less to the infrastructure of the economy whilst still receiving its benefits," the report's authors wrote.
Using a salary of $55,000 as an example, if the 5 percent tax was levied on this individual, it would amount to about $10 per day.
These additional funds could go toward covering costs for low-income workers who are obligated to come into a physical workplace.
"The $48 billion raised could pay for a $1,500 grant to the 29 million workers who cannot work from home and earn under $30,000 a year," said Luke Templeman, of Deutsche Bank.
"For the first time in history, a big chunk of people have disconnected themselves from the face-to-face world yet are still leading a full economic life,” he added.
Many workers in lucrative fields, including those employed in technological and financial companies, have had an easier transition working from home than employees who work at locations like restaurants and department stores where physical presence is part of the job.
A large swath of companies have decided to delay their returns of office spaces, with companies like Google, Uber, Airbnb, Slack, Target, Microsoft and The New York Times delaying office reopenings to summer of 2021 — an estimate of when a COVID-19 vaccine will be widely distributed.
“I hope this will offer the flexibility you need to balance work with taking care of yourselves and your loved ones over the next 12 months,” Google’s CEO Sundar Pichai wrote in an email to employees about potentially returning to offices in July 2021, per The New York Times.
This is one of the dumbest ideas I’ve heard. Which means that we can expect NYC and San Francisco to try implementing this policy soon.
Crazy-talk.
No logical reason to follow this path.
People find a solution to government hardship and get punished for it.
The no good deed goes unpunished system breeds welfarists, abortion and terrorism.
Not surprised a country that was a particular fan of genocide comes up with this tax culture of nihilism and evil.
People can simply relocate to no tax off shore nations then, and work a server from there.
They have been panicking over the inability to get tax revenue the old reliable way, with serfs stuck to the ground. They hate us now for the same reason they hated gypsies and jews.
Or just have an address there and use a VPN from anywhere they want.
Another government reason to never get out of bed ever again.
So it begins. Leveling the playing field. Because nobody should have anything perceived as better. Only, many people at home may not want to be there. Maybe they should tax those who go to work for their carbon footprint. Just sounding as ridiculous as them.
Write it off along with the related household operating expenses. Not joking.
I guess the Germans didn’t get rid of “economic fascism” after WW2. They just let it lie dormant until the right time, and Biden/Harris is the right time for them.
Nothing like sticking it to the American economy. Let the Turks have Germany. After all, they were allies in WW One. Just renewing old friendships and anti-American alliances.
Douche bank can ESAD.
The middle class has to support the very wealthy and the very poor.
Nothing ever changes.
“DOUCHE BANK”
You win the Internet, today!
ROFLMFWAO!!
What a ridiculous idea! Especially during a pandemic, why would anybody want to discourage people from working from home?
Since when does a foreign bank that gets money from the German government openly dictate U.S. tax laws?
Deutsche has had massive layoffs this year (in the thousands) ...all while their top brass continues to be well paid...F em.
Thanks to Trump I think like a populist now. The people who work from home largely now vote Rat and certainly live in big cities. So I am inclined to support something like this. Without really hitting their pocketbooks they will keep virtue-signalling and reading the NYT.
“That means remote workers are contributing less to the infrastructure of the economy whilst still receiving its benefits,” the report’s authors wrote.
Wouldn’t it mean they use less infrastructure!?
They are also calling for a heavy levy of taxes on office buildings and parking lots. You can’t win.
I call for a Deutsche Bank tax of 100.00%.
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