If Soda Tax Can Make it in NY it Can Make it Anywhere – Forbes
As a consumer, I think we should be able to buy a big soda without having to buy two small ones. But as a tax lawyer, I was persuaded by this: NYC’s Soda Ban Is A Good Idea, But A Tax Would Be Better. In a study published in Health Affairs, experts estimated that a 15 percent cut in consuming sugared beverages among 25-64 year olds would prevent staggering numbers of deaths and serious illnesses, not to mention saving billions in medical costs.
The numbers are impressive. To top it off, a soda tax would generate billions in revenue. What’s not to like? In fact, I’m lovin’ it.
Besides, our local, state and national governments like to tax things. We’re used to regulating by taxing. Everything else seems downright un-American. And taxes are big business.
There’s Botox, tanning, music downloads and more. Soda taxes are sin taxes, targeting what legislators view as socially irresponsible behavior. They have the dual purpose of raising revenue and decreasing the targeted bad conduct.
Posted on September 17, 2012, in Article and tagged American Beverage Association, Forbes, Michael Bloomberg, New York, New York City, Soda tax, Tax, United States. Bookmark the permalink. Leave a comment.