NEWS: Philadelphia Soda Tax Leads To 30-50% Plunge In Sales, Mass Layoffs
It’s been only two months since Philadelphia imposed a soda tax and the early results are that supermarkets and soda distributors have seen a 30-50% drop in sales, as reported by Zero Hedge. The soda tax was supposed to help alleviate growing budget deficits in the city of Philadelphia, but has caused an immediate detriment to many businesses in the area. These businesses have announced that they will be introducing massive layoffs, with one business looking to lay off 20% of its workforce.
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