Tuesday, May 12, 2009

Obama Considering Excise Tax on Your Soda, Fruit Drinks, Energy Drinks, Sports Drinks and Teas, Including Diet Drinks

Thanks to Scott at Flopping Aces-

"Senate leaders are considering new federal taxes on soda and other sugary drinks to help pay for an overhaul of the nation’s health-care system.

The taxes would pay for only a fraction of the cost to expand health-insurance coverage to all Americans and would face strong opposition from the beverage industry. They also could spark a backlash from consumers who would have to pay several cents more for a soft drink.

On Tuesday, the Senate Finance Committee is set to hear proposals from about a dozen experts about how to pay for the comprehensive health-care overhaul that President Barack Obama wants to enact this year. Early estimates put the cost of the plan at around $1.2 trillion. The administration has so far only earmarked funds for about half of that amount.

The Center for Science in the Public Interest, a Washington-based watchdog group that pressures food companies to make healthier products, plans to propose a federal excise tax on soda, certain fruit drinks, energy drinks, sports drinks and ready-to-drink teas. It would not include most diet beverages. Excise taxes are levied on goods and manufacturers typically pass them on to consumers."

So... Obama promises to lower taxes on 95% of working Americans before the election but then considers raising taxes on 100% of Americans including kids and non-working after getting elected.

Here's to ya', Obama kool-aid drinkers ...drink up.


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