Deutsche Bank researcher Luke Templeman is of the view that countries should impose a new tax on folks who work from home as they aren’t contributing to the economic cycle as they would otherwise.
On Wednesday, New York Governor Andrew Cuomo announced new social distancing rules given the spike in COVID-19 cases across the United States of America and it appears it could be a while before things go back to normal.
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The Deutsche Bank has since published a report titled “What We Must Do To Rebuild” in which it outlines a number of problems the world could face in the wake of the pandemic. The report states that the number of people who work from home has risen from 5.4 percent to 56 percent while a pertinent survey found most people would prefer working from home two or three days a week even after the pandemic. Templeman notes such workers would be “contributing less to the infrastructure of the economy whilst still receiving its benefits.”
Basically, people who work from home get to skip the expenditure that naturally comes with traditional employment such as purchasing petrol, paying for public transportation, buying food or beverages, or even hiring a babysitter.
Templeman has suggested that persons in the U.S who make at least $55,000 a year should be taxed $10 for every day spent working from home. He estimates it could raise roughly $48 billion per year and could finance grants of $1,500 for other Americans whose livelihoods have been impacted by the pandemic.
To be fair, the suggestion seems a lot less tyrannical when the proposed redistribution system is taken into consideration but it’s also worth noting that there multibillion-dollar companies profiting directly from folks working at home. Why shouldn’t they pay?
Video conferencing startup Zoom has seen stock rise above 400 percent since COVID-19 hit. Companies such as Google and Amazon are also reaping the benefits of having more people spending unprecedented amounts of time at home, with the former also providing video conferencing and various other services while the latter has been perfectly positioned to facilitate online shopping, which has undoubtedly increased in recent months.
The fact that workers are actually spending more hours on the clock due to working at home makes Templeman’s proposal seem more unfair. Fortunately, it’s only a suggestion at the moment.
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