If Soda Tax Can Make it in NY it Can Make it Anywhere – Forbes

English: Macro photograph of coca-cola bubbles...

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.

Faced with budget deficits, an eroding tax base and the legal and political impediments to raising tax rates, what’s to be done? Find new and untapped things to tax. Soda is such an easy target.

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.

via If Soda Tax Can Make it in NY it Can Make it Anywhere – Forbes.

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Posted on September 17, 2012, in Article and tagged , , , , , , , . Bookmark the permalink. Leave a comment.

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