Employees Who Work From Home Should Pay 5% 'Privilege Tax' To Those Who Can’t: Deutsche Bank

Employees who choose to work remotely should be required to pay a “privilege” tax to help lower income workers who don’t have the “luxury” of remote work, Deutsche Bank asserts in a controversial new research report. The privilege tax will offset the immediate financial benefits that employees who work from home receive, including reduced costs for clothing, food and travel, according to "What We Must Do to Rebuild,” a report from Deutsche Bank. "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, Deutsche Bank’s global head of fundamental credit strategy and thematic research said in the report. “Our calculations suggest the amounts raised could fund material income subsidies for low-income earners who are unable to work remotely and thus assume more 'old economy' and health risks," Reid added. Employees making $55,000 a year would be taxed an average of $10 per day under the plan.

from FA News https://www.fa-mag.com/news/employees-who-work-from-home-should-pay-5---privilege-tax--to-those-who-can-t--deutsche-bank-58940.html