Deutsche Bank thinks people should pay a 5% "privilege tax" to work from home

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GFY, Deutsche Bank.


How about “No”

Why should the lower-to-middle classes that CAN work from home subsidize anyone with a 5% tax. Tax the greedy asses who run these places. 5% more tax on them would help a LOT more than a 5% tax on me.


Somewhere along the way, Deutsche Bank went from being a solid, boring bank to being the Wells Fargo/Bank of America of Germany. German politicians in the 2000s encouraged in the feeling that there ought to be a German “global player” bank, and Deutsche Bank was the only one good enough at cooking the books to come through the 2008 crisis unscathed.

Well, they have been playing fast and loose for too long, and deserve to be taken down a few pegs.


Fuck that: my children will be retired before we have finished paying out to bail Deutsche.


There has been a substantial infrastructure built around buggy whip manufacturing for horse drawn carriages. As such, a tax on automobiles should got into effect and the proceeds should go to stable-hands that currently shovel the manure out of stables.


Actually, they should pay their employees 5% more (as a start) for working from home.


That’s what I meant about cooking the books.

They didn’t have the big embarrassing losses like BayernLB had with Hypo Alpa Adria, and were able to keep the shiny happy façade up. All the other German banks took the state help, Deutsche Bank pretended to be the one who didn’t need it. They have a scummy rep here in Germany enough that if you do your banking with them, you try to keep it hush-hush.


Absolutely not. You tax the things you want less of, and subsidize the things you want more of (or to reduce suffering caused by lack of resources). This is a tax that causes more people who could stay at home not to, and is not the only way to subsidize essential workers if that’s what’s needed. I think you could tax employers who don’t offer remote work options for jobs that can be remote, with fewer side effects, though. That would make more sense for those already employed with fixed salaries in potentially or actually remote jobs.


Not to mention anthropogenic global warming. The unmitigated gall of this parasitic proposal is infuriating.


Basically, the scumbags at Deutsche Bank gave their bright boy Luke a list of items that affect the bank’s bottom line to write about. This item probably read:

“DB has massive exposure on downtown commercial office real estate around the globe. Work from home (WFH) trends due to Covid endanger us in a number of ways in this regard. Come up with a way to disincentivise employees from continuing to work from home and/or a way to create a new pool of bailout money for landlords and developers that will socialise our losses if this trend continues. Note 1: do not use all the excuses we’ve been using for the last few decades that WFH is impossible/inefficient/etc. – the pandemic has demonstrated they were utter BS all along. Note 2: do not mention the fact that employers are not subsidising all the employee costs associated with WFH.”

The scumbags at DB don’t give a damn about anything but covering their own bad wagers. This entire proposal is disgusting, including the crocodile tears shed for the workers who’ll supposedly receive the revenues from this tax (which would in fact end up in the hands of mortgage holders like Deutsche Bank). I really hope that the establishment Dems aren’t gullible enough to consider this seriously.


How much did they throw down a rat hole loan to Trumpy?


Dontcha mean how much of other poeple’s money did they throw down a rat hole loan Toadstool?


Good one. Or more recently, there are several offices and infrastructure surrounding travel agents. Online bookings must carry a 5% fee to subsidize those travel agents.


This. It’s infuriating that they are promoting this as a subsidizing lower income workers who can’t work from home when it’s really just a poorly veiled money grab for their poor investments. Not one Euro/dollar will be given to these workers.


A 5% tax grab without allowing employees to write off all the expenses of a home office like an incorporated contractor can? No thanks.


Let’s run with the first half of the headline though: “Deutsche Bank thinks people should pay a 5% ‘privilege tax’”. Damn! I mean, Sanders and Warren only suggested a 3% wealth tax, but let’s use Deutsche Bank’s number.


Nah, how about tax the rich and corporations like they should be?


How about specifically taxing Deutsche Bank?


I mean, should I pay an additional tax because I find some other way to save money?

“You bought a used car instead of a new one, but you can still get around just fine. Please give Honda $10,000 because you are no worse off driving a 2013 than a 2020.”

Also: Fuck Deutsche Bank. When the Feds bailed out AIG to cover all of the counterparty risk in 2008, DB refused to take even a 5% haircut. But somehow the good faith lenders of Chrysler’s last $300MM in corporate debt had to take a 100% hair cut.