Monday, December 21, 2009

Taiwan considering world's first junk food tax

Taiwan has a plan.
They just may be the first country to impose a tax on junk food in effort to control what the public eats, and oh yes, collect money.
The Bureau of Health Promotion is designing a bill to tax food deemed unhealthy, such as sugary drinks, candy, cakes,fast food and alcohol.
It's a little foggy where the revenue from the tax would go, maybe to finance groups promoting health awareness or subsidize the island's cash-strapped national health insurance program.
The foundations of Taiwan's tax system are riddled with holes by the corruption of politics and debt obligations of nearly NT$4 trillion. (US$120.3 billion)
Taiwan has problems with the national public works projects and education and a vicious cycle of national weakening, and sluggish economic growth.
The bottom line is, it's all about collecting money.
So, the junk food tax plan just may be the latest culprit in the corruption of Taiwan's politics.
If passed, the bill is expected to take effect around 2011, says the bureau's director Chiou Shu-ti.
Taiwan would be the first government in the world to impose a junk food tax if the bill is passed, and we can only assume this may open the floodgates of other countries just chomping at the bit to do the same.