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If you read my first article, Taxing the overtaxed, you will remember that I posed the question, after tobacco who or what will be next? Well today we may have an answer.
Today the Senate Finance Committee will meet, behind closed doors, to hear from over a dozen experts on how to pay for the comprehensive health care overhaul that the president would like to put in to effect this year. So far, the estimated cost of this overhaul is 1.2 trillion dollars. The administration has earmarked funds for half the amount and is now looking for ways to raise the rest
The next target for tax increase is sugary drinks. Soda, sport and energy drinks, some fruit drinks and ready to drink teas are the focus of the tax proposal. Advocates of this proposal say that by adding a tax of three cents for every twelve ounce serving would generate 24 billion over the next four years. Now you may say three cents is nothing but in the beginning, that is what the tobacco users said. When lawmakers see how easy it is to generate money through this tax, do you really believe it will stop at three cents?
Supporters of this tax say that it would lower the consumption of these unhealthful beverages thereby reducing health problems and medical costs. Sound familiar? It certainly does to the tobacco users.
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