business news in context, analysis with attitude

Yesterday, MNB wrote about how residents of three California cities -  San Francisco, Oakland and Albany - and Boulder, Colorado, all voted this week to tax sugary soft drinks, arguing that the imposition of such taxes could serve, by making such products more expensive, to help reduce consumption and address the health issues often related to them.

They weren't alone.

The Chicago Sun Times reports that "the Cook County Board of Commissioners on Thursday narrowly passed a 1-cent-per-ounce tax on sweetened beverages ... The tax - which the beverage industry strongly opposes - will go into effect on July 1, 2017. It means the cost of a 99 cent can of soda would increase to $1.11; a 20-ounce bottle, from $2.19 to $2.39."

While health issues have been mentioned as a rationale for the tax, officials also say that "the new tax is necessary to help avoid devastating layoffs and close a $174.3 million budget shortfall for next year."
KC's View:
At least they're honest enough to admit that it is as much about revenue as health.