Chicago City Board Proposes Soda Tax

The city of Chicago is considering a lucrative tax on soda, Fox Chicago reports:

On Tuesday, the Chicago City Council is hearing arguments over a proposed tax on sugary drinks.

Ald. George Cardenas (12th) wants Chicago to charge a 15- to 35-cent tax on drinks to reduce consumption and lower obesity rates. [...]

The Yale Rudd Center for Food, Policy and Obesity has a calculator where cities can learn how many gallons of sugar-sweetened beverages are consumed by residents, and how much a tax would generate. Their calculations find that a 1 cent per ounce tax in Chicago could bring in $129 million/year.

 

Read more at the Free Beacon

Comments

Comments

  1. Yovanny says:

    Regulators in the U.S. and Europe have fined high-frequency traders for using the stysem to manipulate prices. One such practice, called layering, involves issuing and then cancelling orders that the trader never means to complete, pumping false pricing data into the market.Also, many traders’ algorithms are extraordinarily complex, triggering trades when an array of factors line up just so, sometimes with unplanned effects. An investigation by the Securities and Exchange Commission and Commodities Futures Trading Commission found that the 2010 flash crash started with a large sell order from a mutual fund. That triggered a spiral of sell orders from flash traders. Then, when new conditions were established, the process reversed. To critics, the fact that it took months for regulators to uncover the sequence of events requiring a voluminous report to explain them indicates how poorly understood the process is, and how hard it would be to monitor potential problems in real time.High-frequency traders also may be using the stysem to probe the market, discovering when other participants are buying and selling large blocks of specific stocks or bonds, Allen adds. That would allow them to front run, or buy ahead of the big trader, profiting improperly when the other buyer’s order pushes the price up. My guess is a big portion of the [industry's] profits are related to this activity, Allen notes.

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