First They Came for the Smokers…
but I was not a smoker.
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.
Senior staff members for some Democratic senators at the center of the effort to craft health-care legislation are weighing the idea behind closed doors, Senate aides said.
The Congressional Budget Office, which is providing lawmakers with cost estimates for each potential change in the health overhaul, included the option in a broad report on health-system financing in December. The office estimated that adding a tax of three cents per 12-ounce serving to these types of sweetened drinks would generate $24 billion over the next four years. So far, lawmakers have not indicated how big a tax they are considering.
I again ask the question since it’s my favorite soft drink: Where prey tell, does Coke Zero fit into this grand taxing scheme?
Here’s the dirty little secret boys and girls – Team Obama is running out of options to fund their massive expansion and experiment known as “Government-run, single-payer health care.” The prime means was to use the “Cap and Trade” scheme to redirect tax dollars from “evil polluting corporations” to the program. All reports currently coming from the Hill seems to indicate Waxman-Markey will die in subcommittee sometime before the Memorial Day recess.
Option Two appears to be the closing of ‘overseas tax loopholes’ which may or may not even come to the light of day. Option Three was the elimination of the tax deduction for charitable giving. This too has come under fire.
So, Obama Trek: The Search for Your Money continues.