Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
“Samantha Heller, a senior clinical nutritionist at New York University Medical Center in New York City, said research has found a strong association between the consumption of sugar-sweetened beverages and type 2 diabetes, obesity, heart disease, kidney disease, tooth decay and gout.” Yes, if you drink two big gulps a day. But a couple of glasses causes no harm. I personally stopped drinking soda probably 20 years ago, I mean I have one every now and again, but I don’t keep it around the house. Studies show that half of americans drank soda every day. It seems like overkill to… Read more »
What was never studied or disclosed was how much sales tax revenue was lost when people cross border shopped. They didn’t just buy soda outside Cook County, they bought gasoline, groceries, cigarettes, etc., all at lower sales tax rates than Cook County’s. Sure, the soda tax brought in some revenue from those unable to shop outside Cook, but those who did brought a lot of revenue to border counties. My gut feeling is John Daley saw so much sales tax revenue slipping away that the soda tax couldn’t justify it.
Where’s their data showing reduced soda consumption because of the tax? This study seems more complete.
https://www.pennlive.com/opinion/2020/02/you-cant-tax-people-out-of-their-sugary-drinks-opinion.html