Obama wants to add a sin tax to sodas....18%!!!!
sandrarose.com
As a Pepsi addict this is quite disturbing. I'm sure he is doing it for my own good and I'm sure that I could lose a few pounds and my dentist will appreciate fewer pepsis passing my lips, but.......I'M 46 FREAKING YEARS OLD!!! I DON'T NEED MY GOVERNMENT TRYING TO INFLUENCE MY BEVERAGE CHOICES BY TAXING ME MORE!!!! I CAN MAKE THIS DECISION MYSELF!!!!
But let's look at how this kind of tax can have a negative trickle down.
Pepsico employs 198,000 people
Coca Cola employs 92,400 people
Dr Pepper employs 20,000 people
That means that Obama is looking to DECREASE the earnings of over 310,000 people. Even if none of these employees lose their job from this type of action, they will make less, which means that they will spend less and that they will pay fewer taxes.
And what about the value of the companies? These companies are owned by many people in retirement funds. Obama's tax on sodas would be justified on the notion that we need to drink less soda. Less soda sold means less revenues for these companies. This means that people will need to rely on the government more in retirement because their investments have lost value.
And what will we replace the soda with? Milk? There are arguments that cow's milk may not be all that healthy for adults. And with kids there is concern about hormones.
Water? well, I drink a bunch of aquafina (a pepsi product). At least if I replace pepsi with aquafina the revenues would be offset, but that's no guarantee for other people. But, aren't the greenies concerned with all the plastic going into landfills? There's a movement to ban bottle water. So, if the greenies are successful there, then they just screwed up the revenue offset from me drinking aquafina.
Probably not a good thing to talk about the lost revenues to the dentist who has to fill in my cavaties. Not to mention all of his support staff and people who work for companies who manufacture dental supplies.
HOWEVER! the more soda I drink, the more toothpaste I have to buy, so this tax even hurts the toothpaste manufacturers.
OK, so maybe I'm stretching a bit, but the point is, these taxes have a long lasting ripple effect through the economy and it isn't good. |
