The 1.5-cent-per-ounce tax on sweetened and diet beverages....
Doesn’t seem like a 1.5% tax would drop sales 30% - 50%. Plus, you can still use EBT to purchase soda. Fake news?
That means a two-liter bottle of soda has about a $1 tax on it. Those things typically sell for $0.99 to $1.29, depending on where you are shopping. Adding a $1 tax to an item that costs less than a dollar means the tax exceeds 100% of the sale price of the item.
As you noted, the 1.5 percent is PER OUNCE .... and this is on TOP of the 8% sales tax that already applies to soda in Pennsylvania. Soda is classified as food, which is tax exempt in some states, but not in Pennsylvania.
The 1.5% per ounce tax adds 18 cents to the cost of a can of soda, $1.08 for a six-pack or $1.02 for a two-liter bottle.
Link: http://money.cnn.com/2016/06/16/pf/taxes/philadelphia-passes-a-soda-tax/index.html
It's $0.15 per ounce.
Here in cheaper part of state, I buy 35 cent can (12 ounces) of pop sometimes at grocery store. If I bought it in Philly, tax would add 18 cents to cost for total of 53 cents per can, more than 150% of previous price.
1.5. Cents per ounce on a gallon about iced tea is $1.92 on a product that sells for $2.50
Insane