- Mon May 01, 2017 2:00 pm
#86819
New 51% Tax Causes Chaos As Major Jobs Slashed, Philadelphia Democrats Shamed By Failed Bill
As a way to pump up a failing local economy and to also encourage healthy eating, the city of Philadelphia became the first city in the nation to pass a soda tax. The tax was passed last summer and went into effect January 1st. Recent register receipts show the tax adds up to 51% which meant overnight the cost of things like flavored waters shot up. This bill did not mean people just paid the higher price, and the taxes came rolling in. In practice, it meant sales dropped and major jobs were slashed across brands.
Two of the major employers in the area, Coca-Cola and Pepsi had to make sudden and unexpected cuts to their workforce. Sadly a bill that was supposed to help the local economy is forcing tough choices for the families now without jobs. Instead of trying to make healthy eating choices they are faced with worrying about how to keep any food on the table.
While many had concerns about the tax, it seems the last person to fully understand what it would entail was the mayor Jim Kenney. It makes sense to see prices rise on the heavily taxed items but he was quick to blame retailers for passing the taxes on to their customers. It is pretty basic economics that as the retailers are forced to pay the levies that the customers will also see extra costs. Perhaps Kenney expected the retailers to just pay the higher taxes out of pocket and not charge the customers. This is not how it works.
https://conservativedailypost.com/new-5 ... aign=April" onclick="window.open(this.href);return false;
Again showing Dems know nothing about how the economy works.
What say you Ass Clown?
As a way to pump up a failing local economy and to also encourage healthy eating, the city of Philadelphia became the first city in the nation to pass a soda tax. The tax was passed last summer and went into effect January 1st. Recent register receipts show the tax adds up to 51% which meant overnight the cost of things like flavored waters shot up. This bill did not mean people just paid the higher price, and the taxes came rolling in. In practice, it meant sales dropped and major jobs were slashed across brands.
Two of the major employers in the area, Coca-Cola and Pepsi had to make sudden and unexpected cuts to their workforce. Sadly a bill that was supposed to help the local economy is forcing tough choices for the families now without jobs. Instead of trying to make healthy eating choices they are faced with worrying about how to keep any food on the table.
While many had concerns about the tax, it seems the last person to fully understand what it would entail was the mayor Jim Kenney. It makes sense to see prices rise on the heavily taxed items but he was quick to blame retailers for passing the taxes on to their customers. It is pretty basic economics that as the retailers are forced to pay the levies that the customers will also see extra costs. Perhaps Kenney expected the retailers to just pay the higher taxes out of pocket and not charge the customers. This is not how it works.
https://conservativedailypost.com/new-5 ... aign=April" onclick="window.open(this.href);return false;
Again showing Dems know nothing about how the economy works.
What say you Ass Clown?
- By johnforbes