Saturday, February 25, 2017

Economics - how does it work?

You're not going to believe this but when you raise the tax on something, people buy less of it.  I know!

Remember this story about the huge increase on the soda tax in Philadelphia?  An update via Hit and Run: "With Sales Depressed by Soda Tax, Philly Grocers Look to Cut Jobs as Mayor Blames 'Greedy' Soda Industry - One of the city’s largest beverage distributors is planning to cut 20 percent of its workforce; grocery stores across the city are also planning to shed jobs."

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