Ever Wonder Why Trump And Deutsche Bank Get Along So Swimmingly?

The German bank’s most recent economic policy proposal tells you all you need to know…

Deutsche Bank is proposing that people who work from home in the future pay a 5% tax for working from home. That’d be in addition to the income tax they already pay wherever they live. Deutsche Bank says more than half of U.S. workers are currently working at home at least part of the time, and more than half of those say they’d like to continue to, even after the pandemic is over.

Now, it’s true in some big cities like Philadelphia, people who don’t live there pay tax for the privilege of working there. A lot of people don’t know this because it’s just taken out of their paychecks. New York used to have a similar tax; it doesn’t anymore. However, it does have a tax to subsidize mass transit going in and out of the city.

And that kind of makes sense: you’re still likely using some city services like police and fire and sanitation and public transportation, even if you’re commuting in. So if fewer people are commuting in, that is already creating a budget shortfall for some cash strapped cities and municipalities. And at a time when their expenses are soaring, because of COVID-19. So they will be looking for new sources of revenue, especially…