Deutsche Bank says tax-based workers are working to rebuild the COVID economy United Kingdom News

The Cowid-19 crisis is exacerbating inequality around the world as people who are fortunate enough to work remotely continue to earn pay checks while millions lose their livelihoods or risk their health in what is considered “essential” but low wages.

Now, one of the world’s largest banks has proposed to create a more inclusive economy by leveling the playing level and rebuilding countries from the epidemic:

Tax remote workers.

In a report entitled “What We Need to Do for Reconstruction” (PDF), Deutsche Bank advises a five percent daily tax on people working in the country and uses funds raised to subsidize minimum wage workers who cannot work remotely.

“Over the years, we have needed a tax on remote workers – COVID has just made that clear,” the report’s authors argued.

Deutsche Bank said the five per cent tax was justified because those who work from home were “still contributing less to the economy’s infrastructure after receiving its benefits”.

Over the years, we have needed a tax on remote workers – COVID has only made that clear

To understand what the bank is gaining, take the example of someone who used to travel to the suburbs to work in the New York City office.

This person’s contribution to the economy begins before they leave home, even after choosing a store-bought outfit that relies on people who want to look smart on the job. Take away the demand for office wear and that store and its employees are looking at a somewhat weak time.

If office workers take the train to town, they will need to buy a ticket, which will allow public transport to continue and help employees transit. If they wish for a morning disguise, they will sway through a coffee shop, which helps keep barristers profitable, not to mention all the vendors who provide that coffee shop.

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There are security guards at the entrance to the office building whose jobs depend on the person using that facility; Hefazat workers who earn their lives clean it up; Make sure people stock up on office supplies – and the list goes on.

The bottom line is that office workers are an integral part of an economic ecosystem that has developed over decades, so when they stop going to the office, it negatively affects many businesses and jobs.

We are talking about a significant disruption considering the number of remote workers in the United States due to a tenfold increase in epidemics in the United States and a sevenfold increase in the United Kingdom.

A five percent tax for every job from the day home keeps the average person out of the bad side compared to working in the office.

Meanwhile, remote workers are enjoying the benefit of greater flexibility and greater flexibility as indomitable individuals or in the form of extra 30 minutes of sleep because they don’t have to throw themselves into the fraudulent grind of the morning commute.

“People who can do WFH [work from home] And disconnecting yourself from the epidemic has had many benefits during the epidemic, ”the report said. “Five percent tax for every WFH day shouldn’t be anything worse than the average person working in an office.”

How is that possible? Deutsche Bank estimates the average wage for remote workers in the United States is 55 55,000 a year. At this rate, a 5 percent tax works for more than 10 10 per working day. This is equivalent to the lunch money of many workers in the United States and Europe – if they do not have to go to the office, they now save cash.

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Deutsche Bank calculates that in the United States alone, remote workers can raise কর 48 billion a year in taxes – 1, 1,500 for each of the estimated 29 million workers who cannot work from home and earn less than 30 30,000 a year Which includes a pool of necessary staff

People who can work from home and disconnect from the face of society have benefited greatly during the epidemic.

The report adds that the tax will only apply if the government does not advise people to work from home and excludes self-employed people and low-income distant workers (add a collective incentive from struggling freelancers). Employers will pay the tax themselves if they do not provide a permanent desk (see ‘Hot Desking’ later).

Deutsche Bank further argued that the tax has the added benefit of not taking business measures that can never recover from an epidemic, but helps “the public who are suddenly displaced by forces beyond their control.”

“For those who are fortunate enough to be in a position to ‘disconnect’ themselves from the face of the economy, it is up to them to help,” the report said.

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About the Author: Forrest Morton

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