This sounds like a good idea in theory in that it will reduce drinking sugary drinks.. But it seems way to high on % basis when you think about a 2 liter pop is on sale for $0.99 on any given week and charging $0.68 tax on that 2 liter pop seems like price gauging mafia style @ 60%+ tax rate. This looks to be worse than the cigarette tax rate in Illinois on % basis.
Quote:
Cook County Board President Toni Preckwinkle on Thursday will propose a penny-an-ounce tax on sweetened beverages including pop, lemonade and sports drinks to help close a 2017 budget shortfall, a move that comes just 15 months after she pushed through a penny-on-the-dollar sales tax increase, commissioners said.
The beverage tax would boost the cost of pop and the like by 72 cents for a six pack of soda or 68 cents for a two-liter bottle. The tax also would be imposed on fountain drinks. And it would be applied to drinks with sugar and artificial sweeteners, commissioners said. In its first year, it would raise an estimated $74.6 million.
http://www.chicagotribune.com/news/loca ... story.html