Friday, June 17, 2016

Philadelphia Passes #SodaTax Rather Than Reduce Scope of Government

News
Politicians selling hope and change, the promise of better schools and expanded social programs, raise taxes under the guise of public safety or betterment of society. The majority cheers (at least the politicians) when taxes and spending based on optimistic assumptions increase. The finger pointing comes only after the realization that society follows the forces of the invisible hand rather than central planning.

Consumers, each directed by their own self-interests, will either reduce consumption or shift spending away from the city to less expensive suburbs. Expected benefits of the cash injection to $91 million to restock Philadelphia's depleted coffers will likely prove to be 'overly optimistic'. When spending on better schools and social problems, run over budget, the restock of public coffers will become yet another illusion of political sell job. After that, the finger point begins. This process will repeat in city after city until the public demands more than 'government save us' from their representatives.

Headline: Philadelphia passes soda tax after mayor rewrites playbook

NEW YORK, June 16 (Reuters) - Philadelphia Mayor Jim Kenney scored a victory that had eluded more than 40 U.S. public officials who took on the powerful U.S. soda industry when the city council voted on Thursday to slap a tax on sweetened drinks.


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