In an incredible example of total idiocy, a government debt reduction think-tank (why these people are in a 'Think" tank is beyond me) headed by Alice Rivlin and former Republican Senator Pete Domenici, are proposing "an excise tax on the manufacture and importation of beverages sweetened with sugar or high-fructose corn syrup."
YEP! These clowns are proposing a tax on Coke, Pepsi, and Mountain Dew!
Forget the fact that this is pure poppy-cock and will not reduce the debt, but did it occur to these clowns that all the soft drink manufacturers have to do is ..........................change the formula!
And of course it probably didn't occur to them the negative impact this will have on sugar and corn producing companies. No, of course not!
At times I amaze myself with my brilliance!
2 comments:
I think they also proposed a VAT. That won't work.
One good suggestion in their proposal is having only two tax rates: 15% and 27%, and eliminating a myriad of deductions.
There are going to be a lot of people/groups providing debt reduction strategies over the coming months (I hope). Some of the suggestions will be good, some really bad. But at least there will be a debate focused on debt reduction, which overall is good.
Yes, as long as it's focused on debt reduction, but not via more taxes. Any taxes! On anything!
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