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Privilege tax

montrose818

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Deutsche Bank calls for a 5 percent 'privilege' tax on people choosing to work from home
The financial firm says that this tax could generate millions for front-line workers.

By Alexandra Kelley | Nov. 11, 2020

Story at a glance

A new economic report issued by Deutsche Bank asserts that workers who work remotely are enjoying better economic gains than their commuting counterparts.
Many offices will not be reopening until mid-2021.


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.
 
...remote workers are contributing less to the infrastructure of the economy whilst still receiving its benefits.

translation: We are making less money and will get it from you one way or another.



The poor frontline worker is just the feel-good sales pitch, strange they forgot to mention saving the kids.
 
Remote working is going to kick the economy and .gov revenue in the nuts.

I can't remote work, so I'll just enjoy traffic being decreased by 50% or more.
 
Sounds like a desperate "Nothing to see here, but could you fix something that is TOTALLY unrelated to it by giving us money?" line telegraphing the incoming commercial real estate crash.
 
It's such a privilege, yea...
I want a 10% carbon credit tax break for NOT driving to work and saving the environment. How about that?

Fuck Deutsche Bank.
 
Remote working is going to kick the economy and .gov revenue in the nuts.

I can't remote work, so I'll just enjoy traffic being decreased by 50% or more.

I have the opposite problem with it. All these fuckers that used to be in their offices are now out and about during the middle of the day. There was a 15 minute wait at the sub shop and UPS at 2:30 in the afternoon yesterday.
 
Or even worse, a bank that has a pile of politicians in their pocket through campaign contributions calling for them to do this.

You know the neat thing about politicians? They can say “no” to bribes....

they don’t. Stop shifting the blame.
 
You know the neat thing about politicians? They can say “no” to bribes....

they don’t. Stop shifting the blame.

Did you read the article? It's Deutsche Bank calling for it, not politicians. Not yet anyway. But I bet there's some lobbyists scheduling meetings right now.
 
Did you read the article? It's Deutsche Bank calling for it, not politicians. Not yet anyway. But I bet there's some lobbyists scheduling meetings right now.

I don't GAF who is "calling for it." The government(s) created the "problem" with their shut downs. The governments are the only ones who can levy taxes.

So I again stand by my statement...
 
I don't GAF who is "calling for it." The government(s) created the "problem" with their shut downs. The governments are the only ones who can levy taxes.

So I again stand by my statement...

You also seem to think they might say no to a lobbyist. Now who is in the dream world?
 
It's such a privilege, yea...
I want a 10% carbon credit tax break for NOT driving to work and saving the environment. How about that?

Fuck Deutsche Bank.

You are getting that in lower petrol costs not driving. KNOW YOUR PRIVILEGE! :flipoff2:


But honestly working from home, when I was doing it at the beginning of all this did save me a bunch of money. Not using my vehicle and making food at home was nice. I was working effectively and longer because I didn't lose an hour and a half to my commute both ways.
 
BLF-Opening-Bell-994x450.jpg
 
You also seem to think they might say no to a lobbyist. Now who is in the dream world?

Well, being you're a scientist and all, I'm assuming you can answer your question on your own.

You still miss the point. Stop pointing fingers at corporations or people... The buck stops, so to speak, at the elected officials.
 
Well, being you're a scientist and all, I'm assuming you can answer your question on your own.

You still miss the point. Stop pointing fingers at corporations or people... The buck stops, so to speak, at the elected officials.

Stop pointing the finger at people, because the buck stops at elected people...


Umm



Roger that?
 
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