WV soon to be richest state in nation!

[CoolBreeze]

Coke and Pepsi threatened by 'fat tax'

After years of prosperity pushing 800-calorie Big Gulps, the makers and bottlers of sugary sodas are threatened by a new tax passing through New York state government.

Budget shortfalls in 38 states and the relative popularity of sin taxes means that the proposed 18% excise tax will spread well beyond the Empire State. "Other states have asked to share copies of the draft and have shown interest in adopting it," said a source in Albany.

As you can imagine, this is terrible news for the likes of Coca-Cola (KO), Pepsi (PEP) and the Dr. Pepper Snapple Group (DPS). Domestic beer volumes still haven't recovered after a similar measure was introduced in the early 1990s that the industry is still fighting. Recent surveys have shown that a 20% price increase on beverages would result in roughly 70% of consumers cutting back consumption. Nearly 40% of consumers indicated they would stop purchases entirely.
http://blogs.moneycentral.msn.com/topst ... t-tax.aspx

Once one state does it...they all do it.

[AmpedNow]

I'm a popoholic so I'll be adversely affected.

But I also drink diet, more often than not.

Since there's no sugar or empty calories in diet, then it shouldn't be subject to a sugar tax.

But it probably will be.

18% is very excessive, though.

[cgarison]

Since there's no sugar or empty calories in diet, then it shouldn't be subject to a sugar tax.

From what I have read, diet sodas and other low sugar beverages will be exempt.

[Ace Purple]

Time for the soda lobbyists to get to work! Excessive taxes on cigarettes and alcohol was the thin end of the wedge, and now it has moved onto coke (as in soda, not cocaine).

Keep in mind though that New York operates from a considerably different mindset than West Virginia when it comes to such things. Just because New York state is contemplating some moves doesn't mean that WV (or Kentucky or Ohio or wherever else) would necessarily follow suit.