Via Economic Policy Journal

That Will Be 5% Sir

So this is what the Great Reset is going to look like: MORE TAXES.

Deutsche Bank has released a new report titled “What We Must Do to Rebuild,” which examines ways to rebuild the global economy in the wake of the COVID-19 lockdowns.

 One section of the report, written by Jim Reid, Deutsche Bank’s Global Head of Fundamental Credit Strategy and Thematic Research, offers this:

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. 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.

A later section by Luke Templeman adds: 

A five per cent tax for each WFH day would leave the average person no worse off than if they worked in the office. It could raise $49bn per year in the US, €20bn in Germany, and £7bn in the UK. That can fund subsidies for the lowest-paid workers who usually cannot work from home.[…]

As Simon Black at observes:

So apparently all of us working from home are just lazy, good-for-nothing bums in the eyes of Deutsche Bank.

This ‘research report’ seems more like something out of Communist student newspaper, not one of the world’s biggest financial institutions.

If these people feel guilty that their remote work arrangements are unjust, there’s nothing preventing them from giving their entire paychecks away.

But for whatever reason they feel entitled to demand a pound of flesh from everyone else’s paycheck too.

Yet this is the world we live in now– where even the banks have become Marxists and every idiot feels empowered to propose public policy.

Statists will tax for any reason they can think of. 

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As the Beatles song “Taxman” put it:

Should five per cent appear too small

Be thankful I don’t take it all

‘Cause I’m the taxman, yeah, I’m the taxman

If you drive a car, I’ll tax the street

If you try to sit, I’ll tax your seat

If you get too cold, I’ll tax the heat

If you take a walk, I’ll tax your feet

‘Cause I’m the taxman, yeah, I’m the taxman