Deutsche Bank is proposing a 5% work-from-home tax that could raise $49 billion per year in taxes in the U.S.
The Covid-19 lockdowns have caused an unprecedented shift of the U.S. workforce from offices to working remotely at home.
According to reports, Americans who work from home have increased from 5% in 2005 to 56% in 2020.
The bank argues that employees who work from home enjoy less stress, higher pay and savings on expenses such as gas, car repairs, lunch, work clothes, and dry cleaning.”
Americans who work from home would pay a 5% tax for each work from home day .
For example, if an American who works from home averages $55,000 a year in salary, a tax of 5 percent works out to just over $10 per working day.
Deutsche Bank’s proposal claims “a big chunk of people have disconnected themselves from the face-to-face world yet are still leading a full economic life.”
The money raised from WFH employees would subsidize a $1,500 grant to the 29 million workers who can’t work from home and/or earn under $30,000 a year (excluding those who earn tips).