Green Recovery: Deutsche Bank Wants People To Be Taxed For Privilege Of Working At Home

One would think that climate cultists would be thrilled by the notion of people mostly staying home and not taking fossil fueled trips to work, which would mean they wouldn’t be going out to lunch. Nope. They see this as a way of taking Someone Else’s money. It reminds me of the way government mandates higher and higher MPG standards, and wants more and more people to drive hybrids and electric cars, then they want to put more taxes on hybrids and electric cars because there is less money coming in from road and fuel taxes

Deutsche Bank Wants ‘Privilege Tax’ Imposed on People Who Work from Home

German banking giant Deutsche Bank is calling for a “privilege tax” to be imposed on people who work from home, to erase their savings from not having to commute or pay for food on their lunch breaks.

Writing in a paper for the bank titled What Must We Do to Rebuild? analyst Luke Templeman lamented the fact that “remote workers are contributing less to the infrastructure of the economy whilst still receiving its benefits.”

“That is a big problem for the economy,” he complained — as if spending much of one’s pay on commuting, dry-cleaning work clothes, and so on to boost the GDP is something of a civic duty — and proposed a 5 per cent “privilege tax” to recoup the economy’s imagined “loss”.

“Working from home will be part of the ‘new normal’ well after the pandemic has passed,” explained Jim Reid, Global Head of Fundamental Credit Strategy and Thematic Research at the German banking corporation.

“Our calculations suggest the amounts raised [from taxing home workers] could fund material income subsidies for low-income earners who are unable to work remotely and thus assume more ‘old economy’ and health risks,” he suggested.

Their estimated tax take from the scheme in Britain stands is £7 billion, with the potential to grab €20 billion (£17.8 billion) in Germany and  $49 billion (£37 billion) in America.

Most of these people are not working from home because they want to, but because they were forced to, thanks to the flu created in China. Some may enjoy the hell out of it, and might want to continue. Others are surely dying to get back to the office. So, of course, Deutsche wants to tax them for being forced to work at home, because, let’s face it, Progressives always want to tax more and more. Why isn’t Deutsche giving up lots of their own money?

As Eric Worrell points out, this is part of the climate cult’s agenda. He digs into the actual report and finds

Don’t waste the crisis: How to address Europe’s challenges for the next decade

Post-covid, Europe has a unique opportunity to make greater use of fiscal policy to support the strategic goals – green, digital, levelling up – of the EU with public investment. For this to work, fiscal expansion must be sustained, fiscal rules rewritten and common fiscal capacity created. We detail the actions that are needed.

Deutsche has long been a card carrying member of the Cult of Climastrology, pushing this green nonsense, and been a pretty big climahypocrite.

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8 Responses to “Green Recovery: Deutsche Bank Wants People To Be Taxed For Privilege Of Working At Home”

  1. Dana says:

    My younger daughter worked from home from March through June, and she admitted that she was just not as productive during that time, and that’s something companies will have to consider in offering remote work in the future.

    I spent some time on the telephone on Friday with my site hosting service tech support, and he was working from home . . . and taking care of a four-year-old while working.

    But this article points out some obvious, if underappreciated facts: a significant part of our economy is based on servicing the needs of other people working. Breakfast and lunch restaurants, coffee shops, convenience stores, etc, all do much of their business serving people too busy cook breakfast and pack themselves a lunch to go to work. Clothing retailers saw a decrease in sales for pants and skirts and shoes, but an increase in upper body garments, the ones which would be seen over Zoom or Skype. Fuel sales declined. The need for automotive repairs declined.

    These things have economic impacts, but they are impacts that the people working from home don’t see, because the people who have jobs which enable remote work never really see the convenience store clerks; they’re there, but don’t really intrude on their consciousness.

    (I hope the fact that I was able to work all three spellings in the same clause is appreciated.)

    In the aggregate, people working from home do slightly depress the economy.

    • Elwood P. Dowd says:

      The underappreciated Mr Dana IS appreciated for they’re, there and their. Kudos.

      Yes, working from home does depress the economy. But autos reduced the income of buggy whip manufacturers and farriers. The availability of natural gas thwarted king coal. Electric cars will reduce gasoline sales. Societies change and adjust.

  2. Elwood P. Dowd says:

    So Deutsche Bank (Germany) recommends taxes on workers for working at home. While it’s true that many people have learned they had unnecessary daily spending and will likely continue to work from home, perhaps rather than taxing them, we could insure that billionaires pay more than $750 per year in taxes.

    Doesn’t Deutsche Bank have a long history dealing with President Trump? Anyway, wealthy elites are always looking for ways to shift the cost of civilization to those least able to pay for it.

    The pandemic has killed well over 1 million people worldwide and has accelerated changes that were already occurring in societies, i.e., telecommuting, since much work is conducted by telephone and computer. More shopping is conducted online with goods delivered to homes. The need for private vehicles in urban areas will continue to decrease.

    • Est1950 says:

      The need for private vehicles in urban areas will continue to decrease. Do you think the poor will do any better in a world wide depression caused by YOU?

      Your Faux outrage is nauseating as you reveal your real reason for feinting outrage at Covid-19 as being Trump’s personal fault and the reason why you personally have scared the shit out of people over the virus that now has a cure.

      You continue to scream even though Joe Biden has won. Why is that Elwood? We know Biden has a plan and all will be well with the world? Two vaccines have been developed to end the pandemic. You didn’t count on that did you? Hence why there is now an effort underway to undermine faith in the vaccines to keep the panic and the pandemic going until the world is in ruins.

      The Spanish FLU KILLED 50 million people. The world did not close down.

      The Hong Kong flu killed 2 million.

      Asian Flu killed 1 million.

      The world did not shut down and do you think the deep state will let you destroy their gravy train?

      HIDE!!!!! Orange Man Bad developed the vaccine personally in his lab in the basement of the White House. He is Hitler, screams the globalist re-setter. There can be no cure until capitalism is a smoking pile of dung caused by the biggest lie in the history of the world.

      • Dana says:

        Mr 1950 wrote:

        The need for private vehicles in urban areas will continue to decrease. Do you think the poor will do any better in a world wide depression caused by YOU?

        SEPTA, the Southeastern Pennsylvania Transit Authority, is already bewailing revenue decreases from ridership drops, and now, horrors! government workers might have to be laid off.

        Naturally, SEPTA wants more subsidies from government, and, just so we won’t miss the ‘racial justice’ aspect, we were told:

        SEPTA “needs to step up and inform their riders” of whatever may come, said Yasha Zarrinkelk, who heads Transit Forward Philadelphia, an advocacy coalition.

        “You’re looking at essential workers losing access to jobs,” he said. “You’re looking at Black and brown residents losing access to essential services like health care, education, and just ways for them to be able to kind of escape out of poverty.”

  3. President Elect Kye says:

    You even managed to work in a snide comment about Trump on a subject of German taxation. You are a psycho!

    • Elwood P. Dowd says:

      Kye,

      Deutsche Don has a protracted history with the bank, but they would like to cut ties with Trump over the bad publicity. Being associated with Deutsche Don is so onerous that advocating a tax on the workers is preferable!!

  4. Jl says:

    So they want to up the taxes on your fossil fueled car so you don’t drive it as much, but then when you don’t drive it as much they still want to tax you for staying at home? Got it. Just when I thought the clowns couldn’t get any more ridiculous..
    This really has nothing to do with the climate..

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